Facebook: Explaining the company's historic share slump

Facebook attributed their results to a new advertising format and giving users more control over privacy. The biggest involved Facebook sharing the data of 87 million users to a researcher at Cambridge Analytica, a political consulting firm. According to US news network CNBC, Facebook CEO Sheryl Sandberg said GDPR has not hugely affected advertising revenue, but the full effects of the new law may not be felt until the next quarter. A study from the US-based Pew Research Center suggests young people are ditching Facebook for Snapchat, Instagram and YouTube, with 85% of teens preferring the video platform to Facebook. Despite its warnings and weaker numbers, Facebook announced year-on-year revenue growth of more than 40% in the most recent quarter.

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