Facebook faces a day of reckoning, at least on Wall Street

Facebook faces a day of reckoning, at least on Wall Street

6 years ago
Anonymous $RBasgWKaIV

https://phys.org/news/2018-07-facebook-day-reckoning-wall-street.html

The company also warned that it expects revenue growth to decelerate in the next couple of quarters as it promotes new, and for now less profitable, products— such as its Stories disappearing message feature. It is also allowing users to make "more choices" around data privacy amid public outcry and regulatory pressures.

The earnings covered the company's first full quarter since the Cambridge Analytica privacy scandal erupted. But analysts attributed the user growth shortfall largely to European privacy rules that went into effect in May, not to the furor over the political consulting firm with ties to President Donald Trump, which improperly accessed the data of tens millions of Facebook users.

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