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Facebook plunges more than 24 percent on revenue miss and projected slowdown
Facebook missed projections on revenue and global daily active users this quarter after struggling with data leaks and fake news scandals. The company reported its second-quarter earnings after the bell on Wednesday. Shares were down as much as 20 percent. At the current after hours prices and given its market cap at the close Wednesday, Facebook is poised to lose more than $123 billion in market value. Earnings per share: $1.74 vs. $1.72 per a Thomson Reuters consensus estimate Revenue: $13.23 billion vs. $13.36 billion per a Thomson Reuters consensus estimate Global daily active users (DAUs): 1.47 billion vs. 1.49 ... (full story)
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