Facebook’s stocks stumbled on Wednesday afternoon after it posted fourth-quarter earnings, suggesting continuing scandals and regulatory roadblocks may finally be catching up with the social media giant. The average revenue per user reported by Facebook was $8.52, higher than the $8.38 forecast. Roughly 2.89 billion people now use one app owned by the company – Facebook, Instagram, WhatsApp or Facebook Messenger – the company said in its report. A report from the Guardian showed how the Trump campaign was able to spend nearly $20m on Facebook advertising, including on misleading, xenophobic and outright false rhetoric. Facebook is continuing to diversify its offerings, which may mitigate the potential effects of consumer fatigue with its primary social platform.

Source: The Guardian January 29, 2020 21:51 UTC