Facebook Loses 50 Billion Dollars in Market Value in One Fell Swoop

Facebook, the world’s largest social network, lost nearly 8 percent in the first minutes after the opening of US stock exchanges in New York. It is about $ 50 billion in market value.

 

Investors reacted disappointed to the latest quarterly figures. The company is worth more than $ 592 billion and moments later recorded a loss of 6.5 percent.

The company announced yesterday that it would continue to grow, but at a slower pace than so far. Turnover in the past quarter amounted to 18.9 billion euros; a growth of 25 percent compared to last year.

However, this growth would be the lowest since the company was listed on the stock exchange in 2012. The annual profit amounted more than 17 billion dollars.

Compared to a year ago, that is a decrease of 16 percent. Furthermore, the costs turned out to have risen sharply in recent times, partly due to the fight against fake news.