Zuckerberg in January said he was going to adjust the news feed to make sure people spend more time on Facebook with meaningful content from their friends and family members - a move the company has said would decrease user engagement with the site.
Facebook lost more than one hundred billion dollars in market value in a matter of hours on Wednesday after the internet company told investors to expect revenue growth rates to decline for the remainder of the year. It would also wipe his US$13.7 billion ($20 billion) of gains for the year, leaving him with just less than US$70 billion ($102.2b).
Facebook shares were torched in after-hours trading on Wednesday, tumbling more than 20 percent after the social network revealed fewer daily and monthly users than expected in the second quarter - and forecast 2018 growth much lower than Wall Street forecast.
Nearly all of Facebook's revenue - US$13 billion of the total US$13.2 billion - came from online advertising, a sector dominated by the California social network along with Silicon Valley rival Google. The company is grappling with new data laws in Europe, criticism over its content policies and privacy issues.
Moreover, the user count also dropped in Europe where it is dealing with newly introduced General Data Protection Regulation following the Cambridge Analytica scandal.
During the conference call, Facebook executives warned that revenue growth rates will decline by "high single digit" percentages in the coming quarters.
Facebook founder and current centre of controversy, Mark Zuckerberg, seemed unfazed by the loss of users. The company displayed mixed results in its Q2 2018 earnings and this can be contributed to the GDPR, Zuckerberg's testimony before Congress, as well as more scandals that might have contributed to Facebook's weak user growth for this quarter.
Facebook's disappointing second-quarter performance marks the first full quarter since one of its biggest scandals to date.
The shift in Facebook's business fortunes follows a series of crises that began in late 2016 with the revelations that it had become a prime distributor of misinformation.
Facebook said it had 1.47 billion daily active users in June, compared with the 1.48 billion average of analysts' estimates compiled by Bloomberg.
Revenue increased 4% to $13.2 billion in the quarter.
In addition, Facebook said its daily active users rose 11 percent from a year earlier to 1.47 billion, compared with 13 percent growth in the previous quarter.
Strong ad sales from Google, which is Facebook's main competitor for online advertising, had sent expectations for the social network's earnings up, along with its stock price.
Growth in the number of users who logged in each day fell short, too, up 11 percent year-over-year at 1.47 billion but still less than the 1.49 billion anticipated. The company owns three other properties with more than 1 billion users: WhatsApp, Messenger and Instagram.
Operating profit margin, which fell to 44 percent in the second quarter from 47 percent a year ago, will sink to the "mid-30s" for more than two years, Chief Financial Officer David Wehner said in investor guidance.
Zuckerberg said Wednesday that he was hopeful Facebook would be able to limit disinformation and fake accounts, and that the company was able to do so in elections this year in France, Mexico and Germany.
Barcelona praised him as a "daring, pacey forward with an ability to shoot from distance" who has "a great future ahead of him". Roma have rekindled their interest in Chelsea linked winger Leon Bailey after losing out on Malcom to Barcelona this summer.
India skipper Virat Kohli tops this list with 558 runs from six innings in a series against South Africa earlier this year. While he missed out on what would have been his third hundred of the series, he set a string of records.
A spokeswoman for prosecutors in Luebeck said the motives remained unclear as the suspect had not commented on them. A bus stands on a street in Luebeck, northern Germany , Friday, July 20, 2018 after a man attacked people inside.
Some Syrians have opted to be evacuated to northern Idlib province, where the opposition still holds territory. Some 422 volunteers and family members were taken to Jordan via the Israeli-occupied Golan Heights overnight.
The Telegraph has claimed that a whole host of Arsenal first-team players face uncertain futures in the coming weeks. "We are also thinking about the players who were with us previous year and whether we need them to stay with us".
Trump in June had threatened sanctions on countries that purchased oil from Iran , which the Iranian leader dismissed. Roundly applauded by his audience, Pompeo affirmed support by Washington for protesters in the Islamic republic.
A ME native is on the list of US officials that Russian President Vladimir Putin says he'd like his prosecutors to interrogate. Marco Rubio of Florida, said on CNN's " State of the Union " that he believed the warrants to monitor Page were justified.
So the only way he figures that he's going to get reelected - as sure as you're sitting there - is to start a war with Iran. The analyst added that "neither Iran, nor any other country is interested in escalating tensions in the region".
Benchmark Brent crude oil fell $1.07 to a low of $71.83 a barrel before recovering a little to trade around $71.90 by 1045 GMT. He added that Saudi Arabia's total supplies to the market are poised to drop by 100,000 bpd in August compared with July.
Authorities search for missing University of Iowa student
Calderwood later had a message for her niece, telling WOI-TV, " We miss you, we're looking for you and we will never stop ". Tibbetts is described as 5-foot-3-inches tall, weighing about 120 lbs., with long brown hair and brown eyes.
Secret Trump-Cohen tape revealed
The other recordings are of conversations in which Cohen mentions the president to someone else, Giuliani said. Rudy Giuliani told Fox News' Hannity that this payment was reimbursed and that President Trump knew about it.
First half of the week brings more afternoon rain & storms
Like Monday , storms will take advantage of plentiful tropical moisture and produce rainfall rates of 1 to 2 inches per hour. Highs will tumble into the rain-cooled 80s behind the front Thursday and stay there through this weekend.
Once in a century lunar eclipse
At that time, Earth blocks most of the sunlight that would usually hit the moon, so that much of the moon is in Earth's shadow. While the partial lunar eclipse is expected to end by 3.49 am, and the penumbral eclipse would end by about 4.58 am.
Shares surge at Google's Alphabet as it crushes forecasts
In all, it's the same trend: it costs more to drive traffic to Google's advertising, and the cost per click is going down. Revenue was $32.7 billion for the quarter, with Google's advertising business accounting for most of that ($28 billion).
Illness forces Marchionne out of Ferrari
Based on the sudden turn in his health, the Fiat-Chrysler board named longtime Jeep executive Mike Manley as CEO. CNH Industrial, which Marchionne also chairs, named Suzanna Heywood, as his replacement.