Facebook reports lower-than-expected growth after a quarter of data scandals

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Facebook reports lower-than-expected growth after a quarter of data scandals

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After a quarter filled with negative headlines, Facebook reported lower-than-expected growth in revenue and daily active users in its second quarter earnings release.

Facebook reported $13.23 billion in revenue between April and June 2018. A Thompson Reuters consensus estimate predicted the company would generate $13.36 billion in revenue.The company reported 2.23 billion monthly active users at the end of Q2 and 1.47 billion daily active users — an 11 percent increase year-over-year, but Wall Street predicted the company would report 2.25 billion MAUs and 1.48 DAUs this quarter.

Facebook gave advertisers and analysts plenty of reasons to worry this quarter — with Congress threatening to regulate Facebook, the roll out of tighter restrictions on political and issue ads that frustrated some advertisers, the company continuing to face criticism over its handling of fake news on Facebook and WhatsApp, and the fallout of Facebook failing to stop Cambridge Analytica from violating its data policies still fresh in consumers’ minds.

This story is developing and will continue to be updated. 

 

Business

via VentureBeat https://venturebeat.com

July 25, 2018 at 03:38PM