Skip to main content

KPBS Radio is undergoing scheduled upgrade work which may result in temporary signal outages.

LATEST UPDATES: Tracking COVID-19 | Vaccines | Tokyo Olympics

Facebook’s Big Growth Is Slowing, Sending Its Stock Tumbling

Photo caption:

Photo by Eric Thayer Reuters

Facebook shares tumbled Thursday after it announced a slowdown in user growth and projected that its revenue growth would decelerate for the rest of 2018.

Updated at 4:10 p.m. ET

A data-sharing scandal and privacy concerns appear to be taking a toll on Facebook.

Its stock dropped nearly 20 percent Thursday — a day after the company released earnings showing that its user growth has stalled and told investors that it expects revenue growth to slow for the rest of the year.

With a loss of more than $100 billion in its value, the social media giant had one of its worst trading days.

"The company did actually see a 31 percent rise in profits from a year ago, which would be great for a lot of companies," NPR's Laura Sydell reported. "But not Facebook, because it's been such a rocket ship of growth that that wasn't enough to keep Wall Street happy."

On Thursday, Facebook announced that its daily active users grew to 1.47 billion in the second quarter, but the company saw no user growth in the U.S. and Canada and a drop of 3 million users in Europe.

Chief Financial Officer David Wehner told analysts that the rollout of Europe's new privacy law — the General Data Protection Regulation — cut the number of users there and could hurt Facebook's revenue growth in the future.

Earlier this year, Facebook revealed that 87 million of its users had their data improperly shared with Cambridge Analytica, a data analytics firm that had worked with the Trump campaign. In April, CEO Mark Zuckerberg faced questioning before Congress about Facebook's role in the scandal.

Facebook stock closed at $176.26, down about 19 percent.

Copyright 2018 NPR. To see more, visit


San Diego News Now podcast branding

San Diego news; when you want it, where you want it. Get local stories on politics, education, health, environment, the border and more. New episodes are ready weekday mornings. Hosted by Anica Colbert and produced by KPBS, San Diego and the Imperial County's NPR and PBS station.

  • Need help keeping up with the news that matters most? Get the day's top news — ranging from local to international — straight to your inbox each weekday morning.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Curious San Diego banner

Want more KPBS news?
Find us on Twitter and Facebook, or sign up for our newsletters.

To view PDF documents, Download Acrobat Reader.