Facebook‘s prodigious growth has experienced its slowest quarter since the platform went public, with the social network losing users in Europe and missing analysts’ revenue projections amid the Cambridge Analytica scandal and the implementation of GDPR.
Facebook’s total ad revenue for Q2 amounted to $13.23bn, and while the figure was up 42% year-on-year, it fell short of Wall Street expectations.
The numbers were accompanied by a grim outlook from the company’s chief financial officer David Wehner who said Facebook’s data privacy scandals, coupled with other “headwinds” would continue to impact growth for the rest of 2018.
Industry News