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That changed on Wednesday, when Facebook missed revenue estimates, offered a weak sales forecast for future quarters and reported a decline of users in Europe. "In the USA and Canada, Facebook's daily active users remained flat sequentially at 185 million, while the number actually fell in Europe, falling to 279 million, down from 282 million", writes Fox News.

Facebook CEO Mark Zuckerberg's net worth plummeted more than $15 billion with the stock dive, although it's still around $67 billion, according to Forbes' real-time net worth tracker.

Facebook's margin fell to 44 percent in the second quarter from 47 percent a year ago as it spent heavily on security and initiatives to convince users the company was protecting their privacy.

"As we have written about extensively, the advertising industry - and digital advertising no less - has limits to growth, which we think is the primary factor constraining Facebook's revenue opportunity", Wieser said in a note after the earnings.

The company is likely to post subpar operating margins for "several years", he said - "more than two, less than many".

The fleeing of one million users is but a drop in the ocean to Facebook, which now has over 2.2 billion active monthly over-sharers on its website.

In fact, the call with Zuckerberg and his colleagues only made things worse for Facebook's share price. It was the first full financial report since Facebook became embroiled in the Cambridge Analytica scandal in March. Eastern time. Snap's shares were down by more than 2 percent.

Meanwhile, Facebook is also still coming to terms with the European Union's new privacy laws and the impact the rules will have on the business.

"T$3 he number of daily active users on the platform - an important metric for judging the success of a website or app - only grew by 22 million - the lowest growth figure since 2011", Breitbart News divulged.

More lucrative than sales of goods that Amazon owns, third-party transactions offer the company a commission that increases significantly when merchants choose to hand over fulfilment and advertising to Amazon, as many do. "Real world issues that people thought should affect the company are now affecting the company".

Mark Zuckerberg is also counting the cost of user disenchantment with Facebook.

Still, Facebook's sharp drop seems to have had a limited effect on the broader market, which has shown signs of gaining traction in recent weeks as companies largely reported strong second-quarter earnings.

Siva Vaidhyanathan, a media studies professor at the University of Virginia and author of the new book, "Antisocial Media: How Facebook Disconnects Us and Undermines Democracy", dismissed the significance of the stock plunge.