Facebook Shares Plunges 20% After It Warns Sales Growth Will Drop

Facebook Shares Plunges 20% After It Warns Sales Growth Will Drop

By  rumourjuice.com

Facebook Shares Plunges 20% After It Warns Sales Growth Will Drop

Facebook Shares Plunges 20% After It Warns Sales Growth Will Drop

Wednesday's rare moment of weakness arrived as investors closely watched the company for signs of lingering damage following months of bad press, user outrage, and regulatory scrutiny.

In a conference call with analysts David Wehner, who’s Facebook CFO said sales growth may drop as the company prioritizes new formats like Stories and gives users "more choice around privacy."

David said a focus on "putting privacy first" in its product development process will possible "have some impact on revenue growth." Complying with extensive new data protections in Europe will also have a "modest impact" on growth.

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