A down day for Facebook
Wednesday was, shall we say, not a good day for Facebook. The company reported slower than expected revenue growth in its latest quarterly earnings report — and investors were not happy about it. Shares of the company fell as much as 23 percent in after-hours trading. The biggest ding came from Europe, where advertising revenue slowed the most. It’s also where the company actually lost average daily and monthly users last quarter. On top of slower growth, Facebook is also spending more thanks to the General Data Protection Regulation, a new data privacy law in Europe, and scandals in the U.S. that have the company working overtime to clean up the platform and its practices.
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