Mark Zuckerberg loses $16.8 billion in a snap as Facebook plunges
26 July, 2018, 13:22 | Author: Shannon Aguilar
A Facebook panel is seen during the Cannes Lions International Festival of Creativity, in Cannes, France, June 20, 2018. Chief financial officer David Wehner told analysts in a follow-up call to brace for a possibly deeper slowdown as the company seeks to expand new offerings such as Stories and increase privacy and security for users.
The sell-off wiped out almost $150 billion from Facebook's market cap and, faster than you can say, "Move fast and break things", erased roughly $20 billion from the tech mogul's wealth. Global DAU rates increased by 11% compared to the year-ago quarter, but they were still below what Wall Street was calling for.
After-hours trade saw Facebook shares plunge by some 21 per cent, wiping out an estimated US$130 billion in market value if the slump is confirmed at Thursday's market opening. Facebook is rolling out a version of those protections to the rest of the world.If users choose to share less data with Facebook, that could hamper the company's ad-targeting abilities, making it less attractive to marketers.
A data-analytics dustup that dominated much of the year and lingering questions about how it handles misinformation dinged the social-networking juggernaut on Wednesday, sending its shares into a tailspin in late trading. "This is a clear inflection point for Zuckerberg & Co.as the company's advertising fortress and MAU metrics still look "well intact" despite the massive potential headwinds caused by Cambridge and the overall privacy worries (GDPR) in Europe although challenges remain".
Facebookreported a 42 percent increase in revenue and a 31 percent jump in profits for its second quarter, compared with a year earlier. "GDPR has not had a significant (ad) revenue impact, but we also recognize it wasn't fully rolled out this quarter", Facebook Chief Operating Officer Sheryl Sandberg said reacting to the statement, CNBC reported.
He cited currency fluctuations and a shift in usage to features where Facebook shows less advertising or charges less due to lower demand. Facebook has largely saturated in the United States and Western European markets, and is now looking to countries such as Brazil, India and Indonesia for new users.
Tekashi 6ix9ine Kidnapped, Robbed, Hospitalized
The gunman drove away with Hernandez still in the back auto , but he was able to jump out and run away, according to sources. Sources told TMZ that three gunmen wearing hoods got out of the vehicle , grabbed 6ix9ine, and pistol-whipped him.
Only months after a data privacy scandal, Facebook is seeing fewer frequent users than it expected, according to CBS News.
The number of monthly users - a key indicator of Facebook's popularity - rose slightly, to 2.23 billion from 2.2 billion last quarter.
Revenue from emerging markets has not picked up the slack either. Management also warned revenue growth rates would decelerate in Q3 and Q4.
"The company has a track record of resetting revenue growth and expense expectations only to turn around and exceed those expectations the following quarter", Munster wrote. Facebook reported its slowest growth rate ever, with 2.23 billion people logging in at least once a month in June, below the 2.25 billion analysts expected.
The threat of additional regulatory setbacks remains a concern, according to analysts.
An Israeli military spokesman said the plane had crashed "most likely in the southern part of the Syrian Golan Heights". It was the second time during the Syrian civil war that Israel has shot down a Syrian warplane, the Ynet website said .
The rampage came just three months after a van struck and killed 10 people in Toronto in an apparent attack directed toward women. Toronto Mayor John Tory called the shooting a "despicable act" targeting innocents. "That was the scary part", she said.
But Texas Republican John Cornyn said the Senate should focus on "additional sanctions instead of just some messaging exercise". Sarah Huckabee Sanders told reporters on Wednesday that Trump was just saying "no" to taking more questions from journalists.
Fans of the singer were shocked after she revealed she had relapsed with new single, " Sober ", released in June. TMZ is reporting that Demi was rushed to a hospital after suffering what appears to be a heroin overdose.
Meghan Markle's sister Samantha Markle is taken to hospital after a vehicle accident, she claims was caused by the Paparazzi. In the meanwhile, Markle's getting used to all this royal hubbub - from what to wear to how much PDA is too much.
But to become a top top team you have to learn how to play football with courage. "I think to have competition is really good". Now the attention turns towards the summer, and the players who could be moving clubs ahead of the 2018-19 season.
The sport paid for that unlimited access Thursday when unruly spectators interrupted the most iconic climb of the Tour de France . Cavendish was in trouble long before the explosive end to this short mountainous stage, which was created to promote attacks.
A plurality of Americans think Trump's campaign colluded with Russian Federation , but 87 percent of Republicans think it didn't. The documents, available online after media outlets sued for their release, actually suggest the opposite.
During the landmark meeting the two signed a deal to work toward the "complete denuclearisation of the Korean Peninsula". They represent major friction points that could send the U.S. and North Korea spiraling back towards war.
They are among more than 135, mostly unarmed, Palestinians killed by Israeli fire since border protests began at the end of March. Israeli warplanes pounded the Gaza Strip on Friday after a Palestinian sniper killed an Israeli soldier along the border fence.
Former Ferrari president Sergio Marchionne passes away aged 66
It also claims that Marchionne is now being kept alive only by machines, and that doctors said there was no hope of recovery. Marchionne's last public appearance was on June 26 where those on hand noted he seemed breathless and not in the best state.
Alphabet trounces profit estimates as Google reins in costs
The headlining story of this release is that the market was surprised by Google acheiving far stronger ad sales than expected. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $9.45 per share.
Pakistan polls: Former cricketers turn to support Imran Khan
Durrani is contesting for NA-35 under the Muttahida Majlise-e-Amal (MMA) banner against Pakistan Tehreek-e-Insaf chief Imran Khan. Video images from the scene showed three bleeding and unconscious passengers inside a badly damaged black sports utility vehicle.