Facebook daily users declining in Europe, flat in US
Facebook's users in Europe declined for the second quarter in a row while the company's daily user base in the US and Canada remained flat for the third-straight quarter, the US social media giant has announced.
The company disclosed its latest gaffe on Tuesday, saying that its misclassification of user activity had led to overcounting of monthly and daily users.
The company reported 278 million European daily users, down from 279 million last quarter. Users in the US and Canada remained unchanged at 185 million.
The company also estimated that revenue growth would slow in the current quarter, compared with last quarter, which could mark the worst performance since its initial public offering in 2012.
The company estimated 2018 expenses would rise 50 percent to 55 percent above last year, trimming an earlier range of up to 60 percent.
Some financial analysts are concerned that the company’s operational problems are so vast that revenue growth and cost containment will not come as expected.
The decline in daily European users comes amid a number of challenges for the social media company.
The social network’s reputation has suffered from a data breach affecting 29 million users in September and a privacy scandal involving a British political consulting firm in March.
It also has been rocked by domestic and international information warfare on its services, including WhatsApp and Instagram, and a wave of executive departures.
A poll released by the Pew Research Center in September shows that a large number of Americans are stepping back from Facebook in the wake of the recent scandals.
The survey found that 42 percent of US Facebook users said they had "taken a break" from the platform in the past 12 months, and 26 percent said they had deleted the Facebook app from their phone.
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