Think you had a bad day? Talk to Mark Zuckerberg.
Facebook reported its second-quarter earnings Wednesday and the results, which were worse than expected, sent the company’s stock into free fall, wiping out more than $100 billion off Facebook’s market value.
Facebook’s stock continued to nosedive during the call with investors, who pressed the company on its slowing growth and future ad revenue. Investors were spooked by more than just the company’s lackluster performance this quarter, though.
Facebook’s daily active users didn’t grow at all in the United States, its most lucrative ad market, and the social network actually lost 3 million DAUs in Europe as a result of new privacy regulations. Even in other regions where Facebook is still growing, it’s growing at a far slower rate than previous quarters.
Too long, didn’t read version:
Facebook growth/revenue forecasts were a tad off, and executives are predicting this trend to continue. 20% is a huge dip, I wonder how (if) it will recover.