Facebook stocks plunge on flat user numbers

July 26, 2018 3:42

Mark Zuckerberg has pledged increased investment in privacy after Facebook saw its shares slump 24% in out of hours trading following releasing its second quarter figures revealing slowing user growth.

Facebook reported 11% global growth in users, the lowest growth rate since 2011. In North America, the key Daily Active User measure remained stagnant at 185 million while European DAUs fell from 282m to 279m.

Zuckerberg: “We run this company for the long term, not for the next quarter”

The out of hours stock trading on the stagnant figures was brutal with Facebook’s stock collapsing despite the company reporting a 42% year on year increase in advertising revenue to $13bn for the quarter.

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Paul Wallbank

Paul Wallbank was news editor at Mumbrella between June 2017 and June 2019. Previously he's covered business and technology issues for outlets ranging from The Australian and Sydney Morning Herald to the ABC and Business Spectator.

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