Unexpected fall: Facebook lost $ 18 billion in just 2 hours after the report showed a slowdown in company growth

Facebook shares lost about one-fifth of their value after trading on Wednesday after the company disappointed the earnings report and warned of user growth, which was worse than expected

Shares of the social network fell about seven percent immediately after the release of the caution report, and then more than 20 percent fell after the invitation to the investor meeting. His valuation fell to $ 148 billion. "Our overall revenue growth rates will continue to slow down in the second half of 2018, and we expect the rate of revenue growth to be reduced by high single percentages from the previous quarter in the third and fourth quarters," said Chief Financial Officer David Wehner at a conference media.

He added that Facebook still expects a cost increase of 50 to 60 percent compared to last year. Social Media CEO Mark Zuckerberg said: "We saw a drop in monthly activity in Europe for about a million people, and at the same time it was encouraging to see the vast majority of people who confirm that although we want to use the context, including the websites they visit, how the ads would be more relevant and improve the overall product experience. "

On Thursday, Facebook's stock trading was $ 180.25, down 17 percent yesterday. The decline in value has wiped out nearly $ 18 billion of Zuckerberg's net worth of Facebook. The second time this year, the company's shares experienced such a dramatic decline. Her stocks also fell into a break in March after a scandal over violations of data protection rules. At the time, Cambridge Analytica, which used the social networking platform, gained access to the personal data of tens of millions of Facebook users.

• 27 Jul, 2018
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