Facebook forecast for slowing growth, rising expenses sends stock down 19 percent [Reuters]
Meta Platforms, Inc. - Class A (FB)
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Source: Reuters
Facebook forecast for slowing growth, rising expenses sends stock down 19 percent | Reuters 5 Min Read (Reuters) - Facebook Inc on Wednesday warned of slowing revenue growth in the second half and said that expenses would grow faster than revenue next year, sending shares down 19 percent over concerns about the impact of privacy issues on the social media company’s business. The company had cautioned investors to expect a big jump in costs because of efforts to address concerns about poor handling of users’ privacy and to better monitor what users post. Total expenses in the second quarter surged to $7.4 billion, up 50 percent compared with a year ago. Growth in new users slowed with Facebook adding 11 percent more daily and monthly active users on the main Facebook app in the second quarter, compared with 13 percent in the first quarter. “Our total revenue growth rates will continue to decelerate in the second half of 2018, and we expect our revenue growth rates to decline by high si
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