The update showed the key metric of monthly active users rose 11 per cent to 2.23 billion, below most estimates of 2.25 billion, while daily active users grew a weaker-than-expected 11 per cent to 1.47 billion. The news sent Facebook shares crashing some 20 percent, which suggests reality may be catching up to the social networking giant - and the flap over fake news and related scandals may be starting to take a toll.
"Despite facing important challenges, our community and business are off to a strong start in 2018", said Mark Zuckerberg, Facebook's founder and CEO. The social media company posted revenue of $13.23 billion in the period, also falling short of Street forecasts.
The Menlo Park, California-based company reported net income of $5.11 billion, or $1.74 a share, compared with analysts' average estimate of $1.71 a share, according to data compiled by Bloomberg.
Revenue increased 4% to $13.2 billion in the quarter. Both numbers were just shy of analyst expectations, which had put revenue at $13.36 billion and daily active users at 1.49 billion. 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.
It's a rare moment of weakness for Facebook (FB) at a time when investors are scrutinizing the company carefully to determine whether there is any lingering damage from months of bad press, user outrage and regulatory scrutiny.
In the same quarter a year ago, Facebook rang up $1.32 in EPS on revenue of $9.32 billion.
The General Data Protection Regulation (GDPR) in the European Union also will cause a revenue drop. Facebook saw a decline in Europe to 279 million daily users.
"The market was expecting a lot more", Wieser says. In North America, an effort to get all political advertisers to verify their identities may have halted some purchases as the company worked through its broad definition of what's considered "political".
The social network beat the predicted $1.72 earnings per share, reporting $1.74. Instagram now has more than 1 billion users, and analysts expect it to be a model for how Facebook molds its other big app purchase, WhatsApp, into a lucrative business.
"There is never a "right time" for a transition like this, but the team and the company boast incredible talent and will navigate this well", Stretch said on his Facebook page. Earlier Wednesday, the stock reached a intraday high for the fourth session in a row before closing at $217.50, from 42% last quarter.
Facebook's operating margin fell to 44 per cent in the second quarter from 47 per cent a year ago.
Executives warned that revenue growth would slow and expenses would rise. The company's user numbers also came below expectations, with the growth in monthly users stalled in the U.S. and down slightly in Europe.
But that goodwill went out the window because the ballboy specifically tossed the ball to the child in the front row". One person defending the move responding to the tweet, "I like this guy, and he's got a pair of incredible shades on.
The New Zealand Herald reported that a Kiwi double-double - and two victory hakas - stole the show at the Sevens World Cup. Blyde opened the scoring in the final for New Zealand , who weathered some ferocious French tackling before cutting loose.
Paramedics tell CityNews the scene encompasses several blocks and a number of victims have sustained significant injuries. Mr Saunders confirmed that a fifteenth person, the gunman, was killed after an "exchange of gunfire" with authorities.
Lovato has always been an open when it comes to her mental health and struggles with substance abuse . In June, Lovato released a new single titled " Sober ", in which she admitted suffering a relapse .
The firm is less focused on one-time reductions for this quarter as it is on reaching a "more sustainable long-term cost basis". Tesla in late June finally hit an important production target for the Model 3, its most accessibly priced electric vehicle .
Federal investigators had sought documents in the Cohen raids related to that payment and similar payments to other women. McDougal has said she began a almost year-long affair with Trump in 2006 shortly after his wife, Melania, gave birth.
It's expected producers will sign up for these programs at their Farm Service Agency office beginning in September. Trump approved tariffs on steel and aluminum and imposed a 25 percent levy on $34 billion worth of Chinese goods.
This will be the longest total lunar eclipse of the 21st century and also the first central lunar eclipse since June 15, 2011. In fact, such a solar eclipse had last occurred on December 13, 1974, and the next one like it will be seen only in 2080.
If someone wants to come to Roma that is great, but ultimately if they do not want to come to Rome then we do not want them . The La Liga champions posted four photos of the 21-year-old carrying out his medical on Wednesday morning on Twitter .
He said a second message they delivered was that "to achieve that, full implementation of the sanctions is absolutely crucial". Trump appeared to toward North Korea this week, saying that a more gradual option of denuclearization was a possibility.
China to invest $14b in South Africa
The BRICS countries comprise more than 40% of the global population but have never worked as a co-ordinated economic bloc. They were speaking at a three-day meeting of BRICS leaders in Johannesburg, South Africa .
Hundreds missing after dam collapses in Laos
The Xepian-Xe Nam Noy dam project in southeastern Laos has collapsed, displacing hundreds of people in the region. Construction of the project began in February 2013 and commercial operations were expected to begin in 2018.
Pakistan votes on July 25: All you need to know
Questions have also been raised about the role of the military after reports that it was given magisterial powers. Legendary bowler Wasim Akram is among the most vocal supporter of Imran Khan's party Tehreek-e-Insaf.