The most popular social network in the world is pulling down the entire technological sector of the United States. Recently, Facebook's stock showed a devastating fall. The company's securities dropped in price by more than 24% in a day. Record losses were the result of the market participants reaction to the published earnings reports of the company.
Facebook management disappointed investors and analysts with weak quarterly revenue growth. According to official data, Facebook revenue for the second quarter of this year increased by about 42 percent on year and amounted to $13.23 billion. It would seem quite good, but analysts expected the revenue to reach $13.36 billion. A relatively small difference between forecasts and reality cost the company $150 billion - the amount the market capitalization of Facebook declined by. At the same time, it should be noted that the net profit of Facebook grew to $5.11 billion.
Naturally, it also influenced the founder and head of the social network Mark Zuckerberg. The fall in shares value and, as a result, market cap directly threatens Mark's rating on the list of the world's richest people. Now he occupies the third line, but, most likely, Zuckerberg will have to move down.
