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Facebook reports that the number of monthly users has increased by 11 percent to 2.23 billion. Analysts were expecting this figure to be higher.
With a business turnover of $ 13.2 billion, the business forecast has not been achieved. In addition, costs have increased 50 percent to over $ 7 billion compared to the same period last year.
Consequences
"This is probably due to the costs that the Cambridge Analytica scandal entails," says stock market commentator Durk Veenstra.
In the previous quarter, it seemed that Facebook would survive the case without much damage. Then the numbers were better than expected.
Scandal and AVG
The social network and its CEO were also under fire in recent months because of the scandal. The privacy-sensitive data of 87 million users was collected and sold to Cambridge Analytica. The data was used to send people-centered political messages, for example for Donald Trump's campaign in the run-up to the US presidential elections
President Mark Zuckerberg was to appear before the US Congress for this case. to talk to him.
Fewer European users
Despite the CEO's apology, European users seem to blame Facebook for the scandal. The daily number (279 million) and the monthly number of users (376 million) have decreased.
In addition, European regulations on the protection of privacy have also become stricter with the arrival of the AVG. Facebook and analysts have already warned that this could lead to fewer daily users.
In North America, the number of users remained virtually unchanged, while in all other areas there was growth.
Share bottom
dropped shortly after announcing the 7% figures, while it was reaching record highs earlier today.
Investors appear to be declining in Europe and the United States. "This is due to the difference between developed and emerging markets, Facebook being the most profitable in North America and Europe, and the increase in developed countries is not enough to compensate for that."
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