Zuckerberg was leaning for 17 billion dollars in two hours

At the auction on Wednesday, the price of Facebook shares fell by more than 20%. This happened after the new data on the company's audience and its revenues were worse than investors' expectations.

Фото: Depositphotos

The sharp collapse in the value of Facebook shares after the publication of the quarterly report, which gives negative forecasts of analysts, deprived the founder of the social network Mark Zuckerberg nearly 17 billion dollars. The company's losses are about 130 billion dollars, reports Bloomberg.

According to the agency, this is the sharpest drop in stocks in the history of the social network, and it may cost Zuckerberg third place in the list of the richest people on the planet.

The company, which faced a flurry of criticism because of its policy regarding fake news and the protection of personal data, said in a report that at the end of June, the number of active Facebook users was 2,23 billion people.

This is 11% more than in June 2017. But this rate of growth in the number of users is the lowest in the last two years.

Facebook also said that they expect a slowdown in profit growth due to the fact that users are beginning to restrict advertising.

In addition, the company plans to spend billions on monitoring message content, advertising scrutiny, and user privacy policies. It is because of the policy in these areas that the social network has been heavily criticized.

At the same time, the company that owns Instagram and WhatsApp, also invests in new projects related to virtual reality and video.

Falling stocks - “Armageddon” for Zuckerberg?

At first, Facebook shares fell by 12% in trading in New York, but losses rose after the company announced its spending plans.

“They have given very pessimistic guidance for the second half of this year and for 2019, and this has had a significant impact on the share price in the near term,” explains Daniel Eaves of GBH Insights.

However, as Dave Lee, the BBC's technology correspondent in North America, notes, this development is "hardly an Armageddon for Mark Zuckerberg":

“In general, it doesn't seem like people are leaving Facebook. Monthly active users remained unchanged in the US, decreased slightly in Europe, but increased in other regions.”

On the other hand, the deterioration in the performance of the company, which for a long time has hit the growth rates, causes concern, if not panic among investors.

Facebook's profits for the second quarter of 2018 rose by a third compared to the corresponding period last year, to $5 billion.

Revenues grew by 42%, but expenses grew faster - by 50%.

The number of users in the USA and Canada remained unchanged, while in Europe the intensity of regulation of social networking activities decreased. In countries such as Indonesia, Facebook continues to attract new users.

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