Facebook (FB) Stock Sinks as Revenue Misses Expectations

Prime Minister Malcolm Turnbull would

In the final minutes of USA trading on Wednesday, shares hit $217.50, an increase of 32 percent in the last 12 months, before slipping after the bell.

Facebook's after-hours decline was $133 billion, according to Dow Jones data gurus.

"When it comes to much slower revenue growth, they're talking about currency headwinds, but more we think it's due to slower user growth given GDPR and more focus on privacy", Morningstar analyst Ali Mogharabi said.

Facebook registered daily active users (DAUs) of 1.47 billion for the month of June this year which was an increase of 11 per cent year-over-year- marking slow growth rate in the second quarter of the year.

The company reported $5.1 billion in profit, or $1.74 per share, compared with the average estimates of $5.1 billion and $1.72 per share among research gathered by Thomson Reuters.

Prince Harry and Meghan Markle Frustrated Over Thomas Markle’s Paid Media Interviews
Page Six is reporting that Meghan Markle's half-sister Samantha will be on the upcoming season of the British version of Celebrity Big Brother .

Advertising revenue, the lifeblood of Facebook's lean business model, came in at $13.04 billion, below the Street's $13.16 billion estimate.

Facebook's monthly active users number was still up 11% year-over-year.

Shares tumbled 20 percent subsequent to the company reporting its second-quarter earnings - after the market closed. The stock recouped some gains as the evening wore on, but was still down 21%.

"The company has a track record of resetting revenue growth and expense expectations only to turn around and exceed those expectations the following quarter", Munster wrote.

"I just wanted to clarify, is that what you actually said?" asked Sandler.

NK seeks breakthrough by dismantling missile facilities
The president didn't identify the exact site, sparking speculations that North Korea may not be transparent about its activities. The South Korean Presidential Office welcomed the North's dismantlement of its missile launch site on Tuesday.

Selling pressure accelerated when chief financial officer David Wehner warned in a call with analysts of a weaker outlook in the coming quarter. If "high single digits" were to translate to 9 percentage points, that could mean 33% growth this quarter and 24% by Q4, cutting in half the rate of growth from Q1's level. For reference, the company charted an increase of 17 per cent in terms of DAUs and MAUs during the same time past year. "It just seems like the magnitude is beyond anything we've seen".

"Overall, this is a critical year for Facebook".

For now, Facebook (NASDAQ:FB) might not be bothered, but it is certainly going to be thinking about its options for the foreseeable future.

Separately Wednesday, Facebook general counsel Colin Stretch, who advised the company through a series of probes and investigations into data privacy, said he would be leaving for personal reasons. Their average target price is $225.81. And it continued to suffer fallout from investigations into Russian manipulation of the platform during the 2016 US presidential election.

Shares in the technology company and publisher plunged by nearly 25 per cent in late trading after David Wehner, chief financial officer, said that Facebook's revenue growth would decelerate in the second half of the year and expenses would soar in 2019. Alphabet's (GOOGL) Google is No. 1, with 31%. Analysts projected $13.3 billion.

Tesla's call for suppliers to refund cash 'reeks of desperation'
When a company asks suppliers to retroactively give money back, it's a sign that something has gone wrong. Tesla had about $3.2 billion in cash as of March 31, after spending about $1 billion in the quarter.

Earlier this week, Piper Jaffray analyst Michael Olson raised his price target to $250 from $210, a 19% premium from its price at the time. Instagram's business model is so far the most mature, and likely contributed meaningfully to the company's revenue in the quarter, analysts have said, though Facebook doesn't break out sales for the app.

Related news:

Hot News

isis-killer-beheading-video-story-top China's Xi opens BRICS summit in South Africa
Jul 26, 2018 - 10:42
He revealed that the inward quantum investment to South Africa by Brics countries between 2003 and 2017 was a mere $18-billion. BRICS takes up 26 per cent of the world's land mass.

isis-killer-beheading-video-story-top Baron Cohen pranks more celebrity politicians for show
Jul 25, 2018 - 21:00
The program, "Kinder-Guardians", is embraced wholeheartedly by the men, falling into Cohen's comedic trappings again and again. Sacha Baron Cohen is returning to TV for the first time in a decade with this new show for U.S. cable network Showtime .

isis-killer-beheading-video-story-top Mahrez determined to win trophies at City
Jul 25, 2018 - 20:06
For now, the eccentric French defender is enjoying the final days of his summer vacation as delightfully showcased on his Instagram account .

isis-killer-beheading-video-story-top Earnings of Google parent Alphabet top Wall Street expectations
Jul 24, 2018 - 21:37
Google-parent Alphabet announced surging profits, shrugging off the impact of a $ 5 billion fine by the European Union . The reason for the surge was better than expected profits in Google's ad business, which continues to dominate.

isis-killer-beheading-video-story-top Two dead including gunman, 13 wounded in Toronto shooting
Jul 24, 2018 - 20:47
Police confirmed Monday that two people died. "There was quite a bit of blood coming from both of their legs", she said. Glenn Russell told CNN the shooting happened outside a restaurant on the corner of Logan and Danforth Avenues.

isis-killer-beheading-video-story-top First Warning Forecast: Isolated severe storms possible this evening
Jul 24, 2018 - 20:42
Tuesday , southwest onshore wind will again create breezy conditions throughout the day, especially along the coast. Storms will develop in the Gulf of Mexico and move onto the coast, becoming more numerous as they spread inland.

isis-killer-beheading-video-story-top Tear gas halts Tour de France amid French farmers' protest
Jul 24, 2018 - 20:30
Sky has been the dominant team at the Tour since Bradley Wiggins became the first rider to win the three-week race in 2012. The Tour de France is the world's biggest and most iconic cycling race.

isis-killer-beheading-video-story-top What Mesut Ozil's retirement says about Germany
Jul 24, 2018 - 19:55
Speaking to Anadolu Agency, Ozalan from the ruling Justice and Development (AK) Party, said: "I congratulate Mesut Ozil". The 29-year-old's exit from Die Mannschaft was met with a muted response from fellow players.

isis-killer-beheading-video-story-top In election-charged Pakistan, Mahathir makes an 'appearance'
Jul 24, 2018 - 19:44
BehindYouSkipper became one of the country's top trending hashtags as celebrities and former cricketers came to Khan's support. Gandapur's party, the Pakistan Tehreek-e-Insaf, condemned the attack, but campaigning continued ahead of Wednesday's polls.

isis-killer-beheading-video-story-top Tour de France fans continue to taunt Chris Froome
Jul 23, 2018 - 16:15
Briton Geraint Thomas keeps the yellow jersey after finishing ahead of his rivals. "It is what it is and I am enjoying it still". He was accused of using racial slurs against Kévin Reza a year ago and was sent him on a diversity awareness course at the time.

isis-killer-beheading-video-story-top Adam Schiff: Helsinki Talks 'Productive...For Vladimir Putin'
Jul 23, 2018 - 14:51
When asked about what came out of the summit, Bossert said, "President Trump had a productive set of conversations". Most of the times when reporters have shouted questions to him in recent days, he has declined to answer.

Tekashi 69 Has Been Hospitalized After Reportedly Getting Kidnapped And Robbed
Jul 23, 2018 - 14:42
He had previously told cops he was filming a music video in Brooklyn , New York , and left the set around 4am on Sunday. Tekashi 6ix9ine was reportedly kidnapped and robbed early Sunday morning, and is now recovering in a hospital.

isis-killer-beheading-video-story-top Julian Alaphilippe claims Tour de France stage 10
Jul 23, 2018 - 13:17
Frenchman Bardet, however, is now lagging 2:58 off the pace ahead of Thursday's 12th stage ending up the iconic Alpe d'Huez. "Obviously it's not nice (the boos) but everyone is entitled to their opinion, but we need to be safe", Thomas said.

isis-killer-beheading-video-story-top China's yuan plunges again. Is a currency war coming?
Jul 23, 2018 - 12:40
And last week, the administration announced plans for yet more tariffs on $200 billion worth of additional Chinese imports. Last month, the Fed raised its benchmark rate for a second time this year and projected two more increases in 2018.

isis-killer-beheading-video-story-top Shooting in downtown Toronto leaves nine people injured, shooter dead
Jul 23, 2018 - 09:45
Canada traditionally has relatively low levels of gun violence, particularly compared with its neighbour the United States. All those injured have been taken to local hospitals, among them is a young girl in a critical condition.