Facebook plunges more than 24 percent on revenue miss and projected slowdown

CNBC ^ | July 25, 2018

[11th_VA]

Facebook missed projections on revenue and global daily active users this quarter after struggling with data leaks and fake news scandals. The company reported its second-quarter earnings after the bell on Wednesday. Shares were down as much as 20 percent. At the current after hours prices and given its market cap at the close Wednesday, Facebook is poised to lose more than $123 billion in market value. Earnings per share: $1.74 vs. $1.72 per a Thomson Reuters consensus estimate Revenue: $13.23 billion vs. $13.36 billion per a Thomson Reuters consensus estimate

[Blood of Tyrants]

I read that facebook users click on less than 0.06% of ads.

[redfog]

Couldn’t happen to a nicer company < sarcasm off >

[arrogantsob]

I use baked Cuneiform tablets, doesn’t everyone?

[Boardwalk]

Snapchat too.

[AmericanMermaid]

Lol! I’m one of those middle-aged women with the vacay pics! Truly, though, I liked it for keeping in touch with our son and his family up north and other friends. Lately it’s lost its appeal, though, and the virtues signaling from leftists has grown ultraboring.

[Political Junkie Too]

Maybe the drop in revenue is due to Facebook evicting all the conservatives. Maybe they were the people with the most profitable storefronts or did the most buying?

-PJ

[cuban leaf]

; Yes, it’s one of many methods. It was just the easiest to slap in pictures and videos and text so the whole family could see it. It’s kind of like at work OneNote does pretty much the same thing word does but it’s still much easier for taking notes in meetings and things like that.

[Grampa Dave]

Texting, Emailing and old fashknowioned phone calls work whenever my wife wants to contact relatives and friends from Africa through out America.

I set up group emails and text addresses for her, when she wants to contact more than one person.

[huldah1776]

I know 2 young women who do the same. They are similar in many ways. Broken.

[bankwalker]

rumor has it Zuckerberg is gonna step down soon ...

[Labyrinthos]

Exactly.

[joshua c]

Middle aged women? Did somebody say middle aged women? Thats my speciality. Maybe I should post something to go along with my silohouette.

Seriously, aren’t middle aged women a pretty good consumer group?

[catbertz]

Facebook did try to buy Snapchat in 2013, but were rejected by Snap inc., parent company of Snapchat. They’ve been in a bitter battle ever since. FB recently incorporated near clone features of Snapchat into Instagram.

[Vision Thing]

That is not worth a 20% drop in stock price.

Yup, both the earnings and revenue misses were relatively small.

However, fb's forward revenue guidance was the shocker: ~10% drop next quarter, and another ~10% drop two quarters from now. If you add that up, fb is telling us that they are forecasting a 20% revenue drop in 6 months. That's as klunkish as the side-o'-beef being chucked into her scooby van on 9/11/16.

So the after-hours traders traded appropriately.

[Candor7]

Facebook missed projections on revenue and global daily active users this quarter after struggling with data leaks and fake news scandals.>>>>>>>>>>>>>>>>>

Nah! They are tanking because of their new algorithm that controls the extent of relating with Friends.It is disliked wholesale. People are moving on from Facebook as a result.

[Yo-Yo]

Did not know about the forward guidance. Thanks, that explains a lot.

[littleharbour]

[littleharbour]

[cuban leaf]

Yes, and one can ride a horse to work. But I don’t.

[upchuck]

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