Facebook's grim forecast: privacy push will erode profits for years

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. The company further warned that the toll would not be offset by revenue growth from emerging markets and Facebook's Instagram app, which has been more immune from privacy concerns. Facebook's fortunes shifted in under two hours as the company first reported revenue and user growth that missed expectations and then issued warnings about future growth and expenses.

from Yahoo News - Latest News & Headlines https://ift.tt/2LFARdV