Article 3VK62 Facebook stocks plummet more than 20% amid concerns over growth

Facebook stocks plummet more than 20% amid concerns over growth

by
Olivia Solon in San Francisco
from Technology | The Guardian on (#3VK62)

Company warns of slowing revenue growth as it invests in security - but it still makes $13.2bn

Facebook stock price tumbled more than 20% in after-hours trading, after the company's chief financial officer said revenue growth would "continue to decelerate in the second half of 2018" as the company increased its investment in security and privacy.

In its earnings report for the second quarter of 2018, Facebook just missed Wall Street's estimates on revenues and user growth, though it still made $13.2bn - a 42% year-on-year increase.

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