Facebook posted its Q2 2018 earnings report. The company missed the street estimate of $13.36 billion, and instead posted $13.2 billion in revenue. The revenue nevertheless grew by 42% year-on-year, but Facebook's stock fell 8% after-hours. Within a few hours, the share price fell 20% and wiped out $123 billion market capitalization. The General Data Protection Centre (GDPR), Cambridge Analytica, CEO Mark Zuckerburg's Senate hearing and Facebook's meddling and mismanagement with user data, privacy and fake news seem to have finally hit the company. The last time the company missed market expectation was about three years ago; this is still the slowest quarterly user growth Facebook has seen since 2011. Facebook reached 2.23 billion monthly active users, up 1.7% from Q1, which isn't a lot considering that it increased by 3.1% in Q1 and 2.7% in Q4 2017. DAUs were 1.47 billion on average for June 2018. However, both MAUs and DAUs have grown 11% year-on-year, and things look great if you considering the annual growth numbers. As expected, advertising revenue is the primary source of revenue for Facebook, with ads bringing in $13 billion of the total revenue. Mobile advertising revenue makes up 91% of ad revenue in this quarter and is up from 87% in the same quarter last year, reflecting a reduction in Facebook's website. https://twitter.com/JonErlichman/status/1022217593237762049 No new users in lucrative North American market The top guns at Facebook were also trying to skirt around the fact that the company's share of users in the US and Canada…
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