It was one of the biggest one-day losses in US corporate history.
At the start of the day, Facebook was valued at $630bn. By the end, it had dropped to $510bn .
Company founder Mark Zuckerberg personally lost more than $15bn (£11.5bn) in one day, seeing him fall from fourth to sixth on Forbes’ list of global billionaires.
The drop came after the social media giant published its second quarter results.
Although still positive, they came in below investor expectations – and company shares had plummeted nearly 20% by the end of the day.
So why the weaker numbers? Why did markets react so badly? And what does this mean for Facebook?
Facebook attributed their results to a new advertising format and giving users more control over privacy.
But the elephant in the room was the swirl of scandals surrounding the company.
The biggest involved Facebook sharing the data of 87 million users to a researcher at Cambridge Analytica, a political consulting firm.
Read more on BBC
The Malta Institute of Accountants held its 62nd Annual General Meeting on 24th September 2026 at Villa Arrigo, during which seven of its members were elected to its Council.
The elec...
From today, Malta starts facing another major increase in the cost of moving goods to and from Europe, with the combined EU ETS, FuelEU and BAF surcharge set to reach an estimated annual...
Updated 0930
Health centres need more staff, not longer hours, doctors say
Opening more health centres at night would not address the main pressures facing Malta’s healthcare syste...
Updated 1000
Media groups call for consultation on reform
The Institute of Maltese Journalists, PEN Malta, the Daphne Caruana Galizia Foundation and Repubblika have called on the g...
The European Commission has unveiled an ambitious package of tax reforms aimed at simplifying tax rules across the European Union, reducing compliance burdens for businesses and strength...
The European Union's new Migration and Asylum Pact enters into force on 12 June, ushering in the most significant reform of the bloc's migration framework in years and placing renewed em...
The Malta Institute of Accountants held its 62nd Annual General Meeting on 24th September 2026 at Villa Arrigo, during which seven of its members were elected to its Council.
The elec...
From today, Malta starts facing another major increase in the cost of moving goods to and from Europe, with the combined EU ETS, FuelEU and BAF surcharge set to reach an estimated annual...
Artificial intelligence has already transformed industries such as finance and education, but one of its most important tests may come in medicine: discovering new drugs.
Pharmaceutic...
Malta’s new pay transparency regulations, which came into effect on the 5th of June, aim to strengthen fairness and equality in the workplace, but employers are warning that the rushed i...
The Malta Institute of Accountants held its 62nd Annual General Meeting on 24th September 2026 at Villa Arrigo, during which seven of its members were elected to its Council.
The elec...
From today, Malta starts facing another major increase in the cost of moving goods to and from Europe, with the combined EU ETS, FuelEU and BAF surcharge set to reach an estimated annual...
Fears of renewed escalation gripped the Middle East on Wednesday after the United States and Iran exchanged their biggest barrage since July, with Washington striking Iran's southern co...
President Donald Trump announced late Saturday that he had called off planned U.S. strikes on Iran, saying renewed negotiations had raised hopes of easing the conflict and reopening ship...
At least 32 people have been killed and more than 700 injured after two powerful earthquakes — measuring 7.2 and 7.5 — struck central Venezuela seconds apart, causing widespread destruct...
Thousands of Cuban security personnel have begun leaving Caracas after nearly two decades in Venezuela, as Washington ramps up efforts to dismantle the long standing alliance between the...
Poland's Prime Minister Donald Tusk said he expected Moscow to escalate the war in "in the coming weeks", following Russian strikes that hit a Warsaw-bound train in Ukraine, just two kil...
The departure from Moldova of a plane carrying Ukrainian President Volodymyr Zelenskiy to Norway was delayed when authorities closed the country's airspace over a drone alert, a Moldov...
