Facebook’s stock endured several blows this year, with the media mammoth’s first tumble coming in the wake of the Cambridge Analytica scandal. (The Silicon Valley company’s stock hit a one-year low in March.) But the data scandal served as a test of Facebook’s business, one that it seems to be passing: Facebook reported $13.2 billion in revenue, mostly from advertising, up 42% year over year for its second quarter ended in June. It averaged 1.47 billion daily active users, an increase of 11%. The company’s stock reached an all-time high of $216.30 in July, but soon dropped nearly 20% on weak guidance, eroding nearly all of its gains for the year. The question: Can Facebook bounce back again?
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Shares of Facebook are down almost 20% for the year to date.
The NAACP has returned a donation it received from Facebook and is encouraging a week-long boycott starting Tuesday, Dec. 18.
Third-parties had access to photos that hadn't been shared.