Facebook down over 4% on revenue warning

Thursday, 29. July 2021 19:37

Shares of Facebook drooped over 4% on Thursday on the social media giant's warning to investors that it expects revenue growth to slow down "significantly" in the second half of 2021.

Facebook released its second-quarter results earlier this week, revealing a better-than-expected revenue figure of $29.1 billion. However, the company led by Mark Zuckerberg cautioned that revenue growth would "decelerate significantly on a sequential basis as we lap periods of increasingly strong growth" and noted Facebook faces several notable "ad targeting headwinds" this year, such as the recent iOS updates that limit advertisers from tracking iPhone users without their knowledge.

Facebook was down 4.08% to $358.06 per share at 1:18 pm ET.

Related Links: Facebook Inc.
Breaking the News / JC