Facebook’s last earnings report was a total disaster.
After months of bad news, Facebook unveiled its second quarter earnings back in July and reported less revenue than Wall Street analysts expected — and more importantly, fewer new users. In fact, Facebook didn’t grow at all in its most valuable markets, the U.S., Canada and Europe. It actually shrunk.
After years of tremendous user growth — Facebook has more than 2.2 billion users globally, and owns three other apps with more than one billion — Facebook had suddenly hit a wall.