Zuckerberg loses $16 billion in record Facebook fall
28 July, 2018, 10:14 | Author: Shawna Walton
"The bundling of consent for Facebook to use consumer data with access to the platform appears to be an aggressive interpretation of GDPR, and one that might be more subject to eventual regulatory action", Wieser said.
Facebook share prices dropped nearly 20 percent Thursday. The data released by Facebook in the Q2 2018 earnings call indicates that even though revenue increased 42 percent to $13.2 billion, it was still lesser than the Wall Street estimates of $13.3 billion. The last time the company missed revenue estimates was the first quarter of 2015.
More than $109bn (£83bn) has been wiped off Facebook's market value, including a $14.5bn hit to the fortune of founder Mark Zuckerberg after the company warned investors that user growth had slowed in the wake of the Cambridge Analytica data leak scandal. "We're starting to see that this quarter", he said.
Describing the announcements as "bombshells", Baird analysts said the issues were to a large degree "self-inflicted" as Facebook sacrifices its core app monetisation to drive usage.
Yet Facebook is hardly a stranger to a volatile stock price and has rebounded from previous mishaps, including Cambridge Analytica.
Facebook's stock plummeted following a dire second quarter briefing focusing on slowing ad market growth and increased spending on data security following the Cambridge Analytica scandal and new European Union privacy rules.
"The guidance from management over their expectations for revenue growth to decelerate so markedly for the rest of the year did take us, and the market, by surprise", said Christopher Rossbach, chief investment officer at J. Stern & Co.
During the call, Facebook Chief Executive Mark Zuckerberg tried to recast the disappointing earnings.
Facebook's shares later rebounded, but at the time of this writing they remained deep in the red, down by a little more than 20%.
Several factors this earnings call contributed to Facebook's disastrous loss in market value. The number of active users globally was also up.
For more than a year - ever since Zuckerberg published a 5,000 word manifesto arguing that Facebook needs to make the world a better place by bolstering civic engagement and addressing social ills - the company has seemed torn between its philosophical mission and its economic one. "Looking ahead, we will continue to invest heavily in security and privacy".
"Unlike Netflix, whose quarterly shortfall we saw as temporary, here we see an evolution of the story, albeit a portion of which we expected", said Daniel Salmon, analyst at BMO Capital Markets.
Bill Shine disputed the idea she was banned per se, but even Fox News defended her over the White House. Journalists and free press advocates responded to the obvious disconnect in the White House's statement.
A legal battle is sure to ensue, so expect to hear much more on the fuel economy front in the coming weeks and months. The proposal is still under review, but the core elements aren't expected to change, the sources said.
She said the agency is conducting a review and also co-operating with BART and local law enforcement in their investigation. Cowell had a tattoo on his chest and a bandage on his forehead, she said. "They asked him what his name was.
Some 300 Palestinians - majority assailants, Israel says - have also been killed in that period, according to news agencies. Hamas and the PFLP (Popular Front for the Liberation of Palestine) praised the "heroic" stabbing attack on Thursday.
He added that he felt Putin is an enemy of the US but that "it's OK to talk to your enemies". "These are two nuclear superpowers. Heated questions were also posed about North Korea, NATO and Iran. "I think I responded to everything", Pompeo responded.
Manchester United finished in second place in the Premier League table last season to finish above Spurs and Liverpool FC. If our players are interesting a lot of clubs it is because we are recruiting well and doing good work.
Hamels carried a 3.61 ERA at the end of June, before a rough July (1-3, 11.12 ERA) sent his ERA climbing and his price dropping. He's given up 16 home runs over 59 innings at home and 7 home runs over 55 1/3 innings on the road.
Brunson, and call on Turkish authorities to resolve his case immediately in a transparent and fair manner", he said on Twitter. While Brunson has been released from prison for health reasons, he remains under house arrest.
Three California appellate justices have 90 days to discuss Multhaup's appeal argument as well as issue a ruling on the appeal. The judge presiding over the trial - Aaron Persky - was recalled from the bench after public scrutiny for being too lenient.
A top Iranian military official said US threats against Iran will draw a, quote, "strong, unimaginable and regrettable response". In retaliation, Iranian Foreign Minister Mohammad Javad Zarif on Monday warned Trump to "be cautious".
NIKE, Jordan Brand To Cut Ties With Kawhi Leonard
Danny Green , who was sent to the Raptors with Leonard, and DeMar DeRozan, now with the Spurs , also have passed their physicals. Green, meanwhile, played 70 games for the Spurs in 2017-18 after missing five games in December due to the groin injury.
Weather forecasters predicting a return of the heatwave
Where flooding or lightning strikes occur, there is a chance of delays and some cancellations to train and bus services. The relentless heat has baked the United Kingdom for weeks, and the intense pressure will cause thunder this afternoon.
Cooler, more comfortable weather on the way
Despite a cold front moving in on the area, we'll still be very hot with temperatures peaking right around noon to 1pm. Expect highs in the upper 80s and lower 90s with a heat index of 95ºF to 100ºF for most of the Tennessee Valley.