This tech billionaire just lost US$15.9 billion in a single day

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"And it reflects that many people use more than one of our services", he said.

He subsequently backtracked from this comment after it triggered widespread public outcry. And the increased spending aims, among other things, to prevent a replay of the fake news and propaganda that Russian agents unleashed on an unguarded Facebook in an attempt to sway the 2016 presidential election. That means Facebook could feel its effects more strongly later this year.

Facebook's daily active users in Europe declined by 3 million amid the new regulation.

The second-quarter results were the first sign that a new European privacy law and a succession of privacy scandals involving Cambridge Analytica and other app developers have bit into Facebook's business.

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"I am very happy with the work of the lads", Simeone said. " Arsenal knew who they were going to sign in Unai Emery ". For Smith Rowe to score is very good for him and the team.

In addition, the company expects to invest in products like Stories "that now have lower levels of monetization", while the introduction of new controls for users to limit their data-sharing with Facebook "may have an impact on our revenue growth", the CFO said.

The slump is the biggest drop in market capitalisation in history - far exceeding Intel's $91bn single-day loss in September 2000. For Mark Zuckerberg, it's just about a fifth of his net worth.

In pre-market trading on Thursday, Amazon stock had dipped 1.5 percent, Netflix 1.8 percent, and Alphabet 1 percent.

The social media giant's quarterly performance in the abstract was strong, with earnings per share hitting $1.74, up from $1.32 in the year-earlier quarter. The company missed Wall Street's expectations on both revenue and its number of daily and monthly active users.

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The former model said she had an affair with the now-president in 2006 around the time his son Barron was born. Giuliani confirmed to NBC News that Trump's team waived the privilege protections over that recording .

"Given this more cautious outlook, we are lowering our estimates and reducing our price target to $205 from $225", Monness Crespi Hardt Analyst Brian White announced Thursday in an investor note, according to Fox News.

On a call with analysts, Facebook advised it expected its revenue growth rates to be lower than the year prior, especially in the second half of this year. Facebook warned that its operating margins would fall from its current 44 percent to the "mid-30s". They believe users have woken up to Facebook's growing list of controversies and chose to vote with their "Log Out" buttons.

But there's also been a notable slowdown in user growth.

He added that Facebook has "a track record of resetting revenue growth and expense expectations only to turn around and exceed those expectations the following quarter".

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They are very aggressive people, they may get aggressive, and congratulations, you are in World War Three". A spokeswoman for the German Economy Ministry said: "We want to avoid a spiral of tariffs".

It wasn't since the turn of the century almost two decades ago that anything close to such a huge loss was registered in the U.S. That $120 billion plunge is the biggest-ever one-day loss in dollar value for a U.S. company. Mobile advertising revenue is also up, and now represents 91% of advertising revenue for the second quarter of 2018, which is up from approximately 87% of advertising revenue in the second quarter of 2017.

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