Facebook shares fell as much as 24 percent in after-hours trading after sales growth didn’t meet expectations.

After more than a years worth of controversies, Facebook is no longer invincible.

Shares in the social network fell as much as 24 percent in after-hours trading Wednesday after sales growth didn’t meet expectations - and the social media giant said it would slow down even further in the months ahead. The numbers suggest that the political and social backlash against Facebook, and its costly response to it, is starting to affect the business.

Revenue totaled $13.23 billion, up 42 percent but shy of the $13.36 billion analysts expected. The company beat the bottom line forecast, with $5.1 billion in profit.

“We run the company for the long-term, not just for this quarter,” said Mark Zuckerberg, Facebook’s founder and CEO, referring to the losses on a call with investors. The stock slide Wednesday afternoon wiped out as much as $150 billion of Facebook’s value, and Zuckerberg himself lost billions of dollars.

More info: https://www.washingtonpost.com/technology/2018/07/25/facebook-shares-fall-percent-revenue-miss/?utm_term=.e7791051d4a2

How do you think the Facebook stock will perform in the future?

Submitted July 25, 2018 at 07:31PM by gorillaz0e https://ift.tt/2A8wovD