Facebook Stock Decline Is Largest One-Day Drop in U.S. History
28 July, 2018, 19:41 | Author: Lora Ball
But Amazon shares - which had been feeling the jitters from Facebook shareholders' disappointment - jumped more than 3 per cent to a record high of US$1874 in after-hours trading.
The company said profit was up 31 percent in the second quarter at $5.1 billion as revenues rose 42 percent to $13.2 billion.
In lieu of Facebook's current multi-front crisis, one activist investor filed a proposal demanding that Zuckerberg be replaced as the firm's chairman for "mishandling" the numerous crises beleaguering the company, according to a report by Fortune. The company's quarterly revenue fell slightly short of meeting the expectations of Wall Street analysts.
The Mark Zuckerberg-led social-media titan saw shares drop 19% on Thursday following a disastrous second-quarter earnings report. Not only did the Cambridge Analytica scandal only really affect Facebook users and not those on other Facebook-owned services like Instagram, WhatsApp or Oculus devices, but Facebook has been facing a trickling loss of younger users for years.
Facebook shares have already been through a rollercoaster of ups and downs this year, with the biggest slump coming in April after it emerged data from tens of millions of users had been acquired by Cambridge Analytica.
Facebook's stock took a beating Wednesday - before being utterly pummeled.
Nearly all of Facebook's revenue - $13 billion of the total $13.2 billion - came from online advertising, a sector dominated by the California social network along with Silicon Valley rival Google.
The figure includes real people, rather than accounts since people can have multiple accounts on a single app, founder and CEO, Mark Zuckerberg said.
This was evident in a 50 per cent rise in costs year-on-year for the quarter.
In a research note, he said Facebook's outlook "suggests that while the company is still growing at a fast clip, the days of 30 percent-plus growth are numbered". But as I've said on past calls, we're investing so much in security that it will significantly impact our profitability. But the shedding is still notable because Facebook, until now, has only ever experienced growth in users quarter-to-quarter. Traders are bracing for a decline in tech stocks when the markets open Thursday.
For Q2, Facebook's daily active users increased 11% year-over-year, to 1.47 billion on average during the month of June.
But Facebook's recent woes appear to be more than just a temporary bump in the road.
Wehner gave three different reasons why the company's revenue growth would decline: currency headwinds, greater investments in new kinds of content-sharing, like disappearing videos, and greater user control over privacy - a direct response to criticism the company has fielded.
Chatwood walked six batters in the Cubs' 7-6 walk-off victory over Arizona on Thursday, giving him 85 walks in 94 innings. But the 34-year-old is an experienced playoff performer with a history of success at Wrigley Field.
Companies have until November 4 to fully wind down activities with Iran or risk exclusion from the USA financial system. The other countries involved in the Iran deal have vowed to uphold the agreement.
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 .
A few hours after her initial video, Barr posted another clip to YouTube, titled, " Roseanne Barr's official statement". She did not clarify what she believed was Jarrett's involvement in the agreement.
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.
We'll keep you up to date with the very latest transfer news concerning your club in our daily gossip and rumours column. That is the point. "First of all we have to play the football that gives us an opportunity to win something".
Three winners from California, Florida and Tennessee shared the colossal amount, taking home a massive $327.8m (£248m) each. And you'll have to pay taxes in the future on whatever you earn on your lump sum, as you would with the annuity payouts.
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.
Molinari clinched it with a driver that skirted the edge of a pot bunker, leaving him a lob wedge from 112 yards to 5 feet. All he did at the BMW PGA Championship was go head-to-head with McIlroy in the final round and beat him by two.
This is obviously a huge wake-up call. "This is definitely a medical emergency and we need to get there as fast as possible". Lovato regained consciousness but refused to tell emergency responders what drugs she was using, according to TMZ .
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.
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.