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Facebook shares collapsed on the US stock market yesterday, after months of scandal and after announcing financial results below analysts' expectations.
Social network shares fell 20%, marking the biggest drop in its history of a New York-listed company, according to Bloomberg.
Thus, more than 120 billion dollars, and Mark Zuckerberg lost nearly 17 billion dollars in wealth
The financial performance of the computer giant has so far been there. away from criticism of personal data security and Cambridge Analytica and the false news scandals influenced the elections.
The company reported Wednesday sales figures and an increase in the number of users below expectations analysts, which has shaken investors.
Thus, Facebook announced a net profit of $ 5.12 billion for the second quarter, $ 1.74 per share, against $ 3.89 billion, respectively $ 1.32 per share, over the same period last year. Revenues increased to $ 13.04 billion, from $ 9.16 billion a year ago.
FactSet interviewees predict earnings per share of $ 1.71 to $ 13.34 billion. For the third quarter, analysts forecast earnings per share of $ 1.82 billion to $ 14.24 billion.
Facebook also reported 1.47 billion active users a day, while Wall Street analysts predicted 1.49 billion users. The company also announced 2.23 billion monthly active users, less than 2.25 billion users estimated by analysts.
Facebook has already warned investors that sales will slow down in the coming quarter, the company focuses its strategy on data protection and privacy
Facebook's chief financial officer, David Wehner, said at from a conference with investors that Facebook places privacy in the lead after the scandal Canbridge Analytica
As an example of the new strategy, Wehner said that Facebook will focus more on the development of the Stories application, which will lead to a decrease in sales, because Facebook is pulling money from advertising that sells it on News Feed and less on other products.
Facebook says it will spend as much money as it needs to remove the targets. Wehner explained that he would invest billions of dollars a year to improve the quality of the news distributed on Facebook after the company was accused of spreading fake news, which influenced the elections in various countries of the world. world
Facebook has increased by 23% this year, while the S & P 500 has grown by 5.5%.
The worst day for Facebook was July 27, 2012, when stocks fell 11.7%. The collapse occurred after Facebook failed to convince investors to accept the sale of mobile advertising. Today, mobile advertising generates 91% of the total revenue of the company.
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