Facebook Investors on Alert for Any Evidence of User Defections
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Facebook Inc. is on tap to report first-quarter results after the close of trading on Wednesday, and Wall Street will scour the numbers for any signs of user losses or a drop-off in advertiser spending.
The company’s shares have tumbled 10 percent this year, with much of the decline related to revelations in March that Facebook failed to safeguard the data of millions of users. Political-consulting firm Cambridge Analytica obtained information on as many as 87 million Facebook users in 2014 and then lied about deleting the data, Facebook has said. Chief Executive Officer Mark Zuckerberg has spoken about the social network’s efforts to improve privacy protection to users, journalists and U.S. Congress. Now he’ll need to address Wall Street.