Facebook Revenue, User Growth Miss Estimates as Scandals Hit
- Sales increase 42% while contending with new privacy rules
- Workforce jumps 47% to manage manipulation, content issues
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Facebook Inc. saw the first signs of user disenchantment in the midst of public scandals over privacy and content, with second-quarter revenue and average daily visitors missing analysts’ projections.
Chief Financial Officer David Wehner said sales growth will continue to slow through the rest of the year. Shares, which had declined about 7 percent in extended trading, fell as much as 23 percent after Wehner’s comments on a conference call with analysts.