Investors desert Facebook after it missed revenue targets as the cost of the Cambridge Analytica scandal bites
- Latest: Facebook shares tumble almost 20%
- Up to $125bn wiped off company’s value
- How Facebook disappointed Wall Street
- Operating margins to shrink as costs spike
This chart from Bloomberg shows how Facebook is facing the biggest loss of market value in cash terms ever:
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Wall Street analysts are worried that Facebook suffered a slowdown in user growth last quarter.
The number of North American daily active users on the site remained flat, while the European user base actually shrank — following the Cambridge Analytics scandal, and new data protection rules.