Facebook chairman and CEO Mark Zuckerberg testifies at a House Financial Services Committee hearing in Washington DC, October 23, 2019. File photo: Reuters
Facebook shares slump after results show slowing growth, despite record fourth-quarter revenue
- The world’s biggest social-media company reported record fourth-quarter revenue of US$21.1 billion, boosted by ads on Instagram and in video
- But the 5 per cent increase from the period a year earlier was its slowest-ever quarterly sales growth
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Facebook chairman and CEO Mark Zuckerberg testifies at a House Financial Services Committee hearing in Washington DC, October 23, 2019. File photo: Reuters