TechBooky

It’s official. Facebook Inc. just had the biggest stock-market drop in American history. Until now, Facebook has appeared to be immune to the litany of scandals its business has generated over the past couple of years, with ever-increasing growth in revenue and users and an unsinkable stock price. On Wednesday, its ability to coast on its years of success finally seemed to give out. On an earnings call with investors, Facebook reported that its revenue grew by 42 percent over the same time last year, reaching $13.2 billion for the quarter—a number that was lower than the $13.3 billion analysts expected. The slight miss may have been what sent Facebook’s stock plunging more than 23 percent after the call in after-hours trading, but more likely it’s what’s going on with some of the social network’s metrics. Facebook"s margin fell to 44 percent in the second quarter from 47 percent a year ago as it spent heavily on security and initiatives to convince ...

The Senate hearing on Tuesday ended with a little hope of a course of action, indicating that Facebook is here to stay and that there"s little the privacy advocates can do after all. Mark Zuckerberg, Facebook Inc. Chief Executive masterfully navigated through the first two hearings without conceding defeat. All through the congressional hearings, he refused to make promises that his company will abide by the new regulations or change the business model to suit the privacy advocates. Although he spent ample time apologising for what he admitted was the social network"s mistakes for failing to protect the private information of users from exploitation and for allowing “fake news” to thrive on the platform to influence the 2016 US election, he skilfully managed to handle any attempt to support any congressional regulations. Read more: Mark Zuckerberg’s Senate Hearing Indicates A Little Hope For Action The new congressional regulation affects every internet-based comp...