Facebook Lost $150 Billion In Less Than Two Hours

Facebook stock plunged by as much as 24 percent in after-hours trading on Wednesday, due to alarm over the social media giant's quarterly report. The company has faced stiff criticism over the Cambridge Analytica data scandal, and executives warned that its revenue growth would slow and its expenses would rise. The company had said it would face higher costs as it addressed concerns over the handling of user data.

Topics:  cambridge analytica   facebook   quartz   billion   hours   company   expenses   data   percent   
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