Facebook's value falls $148 billion after Q2 earnings call

Facebook's founder and CEO Mark Zuckerberg speaks at the Viva Tech start-up and technology summit in Paris France

Facebook is rolling out a version of those protections to the rest of the world.If users choose to share less data with Facebook, that could hamper the company's ad-targeting abilities, making it less attractive to marketers.

The key metric of monthly active users rose 11 percent to 2.23 billion, below most estimates of 2.25 billion, while daily active users grew a weaker-than-expected 11 percent to 1.47 billion. His fortune tumbled in late trading Wednesday, as shares of the social media giant slid 20% in post-market trading in NY on disappointing results.

Facebook CEO Mark Zuckerberg could slide to sixth place from third on the Bloomberg Billionaires Index if the downward trend following late trading on Wednesday in the United States continues through Thursday.

Facebook generated revenue of $13.23 billion during the quarter ending June 30, compared to $9.32 billion during the same quarter past year.

Total revenue rose 41.9 per cent to US$13.23 billion.

China to invest $14b in South Africa
He will participate in the two-day BRICS Summit, whose theme this year is "BRICS in Africa". The South African rand firmed by more than one percent on news of the investment.

The site also brought in 1.47 billion global daily active users (DAUs) during its second quarter, below the 1.49 billion that analysts were projecting, according to a StreetAccount and FactSet outlook.

But analysts attributed the user growth shortfall largely to European privacy rules that went into effect in May, not to the furor over the political consulting firm with ties to President Donald Trump, which improperly accessed the data of tens millions of Facebook users. Fourteen analysts surveyed by Zacks Zacks Investment Research expected $13.43 billion.

Facebook suffered a blow in China on Wednesday when regulators there withdrew their approval of a company innovation hub to support local startups, the New York Times reported on Wednesday (local time), citing a person familiar with the matter.

Also alarming to investors: Facebook's growth is slowing with users in some of its most lucrative markets. Facebook said mobile made up 91 per cent of ad revenue in the recent period, compared with about 87 per cent a year earlier.

Facebook's daily active users in Europe declined by 3 million amid the new regulation.

France's Kylian Mbappe hid injury in World Cup semifinal and final
PSG star forward Neymar on Thursday quashed transfer rumours and insisted that he would be staying at the French club. Most of the speculation is made by the media. "Yes, I will stay in Paris", he said, according to ESPN Brasil.

"The market was expecting a lot more", Wieser says. So far, WhatsApp doesn't show ads, and its founders Jan Koum and Brian Acton left Facebook amid disagreements over advertising and other issues. Facebook said that family audience measures how many people it counts across all of its apps, including the main Facebook app, Facebook Messenger, WhatsApp and Instagram. "We think that's the right thing to do for the business", he said.

The company's founder and CEO Mark Zuckerberg is counting the cost of user disenchantment as his fortune tumbled by US$16.8 billion ($24.5 billion) in late trading on Wednesday, US time.

Before the results were announced, Facebook's shares had closed in NY at $217.50, a record high, and had gained 23% this year.

Analyst Ross Sandler with Barclays asked if revenue growth was set to drop to "around 20% by the fourth quarter of this year".

"The company has a track record of resetting revenue growth and expense expectations only to turn around and exceed those expectations the following quarter", Munster wrote.

Pulisic signing would interest Klopp
Later, the 19-year-old followed up with a spectacular goal in the 89th minute to put Dortmund one goal ahead. The German goalkeeper lost a lot of trust when he made two costly errors in the Champions League final.

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