Facebook missed revenue and global daily active user projections during its second-quarter earnings report. The company faced difficulties as it dealt with data leaks and fake news scandals during this time period.
This is the start of Facebook turning into Myspace. It’s not just the younger crowd that has stopped using the social network, Facebook has been having many problems with their business model.
Facebook’s Market Value is DOWN 24%
Facebook Inc’s shares lost as much as a quarter of their value on Wednesday (7/25/18) after executives said that profit margins would plummet for several years due to the costs of improving privacy safeguards and slowing usage in the biggest advertising markets.
Worldwide daily user growth for Facebook’s namesake service slid for its sixth straight quarter, bringing it to nearly 1.5 billion users in the second quarter.
The company said for the first time that more than 2.5 billion users interact with at least one of its apps each month, but analysts have said many of them are spending more time with Messenger, WhatsApp, and Instagram. Commercialization of those apps are in the infant stages.
What’s a Business to Do?
Stop building your networks on Facebook. The platform is dying and going forward it is a waste of time. You can continue to post to keep your business page updated but certainly, it is time to limit your activities on the platform and focus on platforms that will give you a better ROI. Email is always a great option for reaching your customers.