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Facebook peaks out

July 26, 2018.

User deletes Facebook app.

Facebook has lost 3 million users in Europe. © iStock.

This quarter, Facebook had 185 million users in the U.S. and Canada, roughly the same number as in the first quarter. North America is Facebook’s most lucrative market by far, with the average user generating US$25.91 in revenue. This is the fourth consecutive quarter that the number of users stays stuck at185 million, which means that Facebook has probably reached its saturation point in this market. Worse, for the first time, the social media platform has actually lost users in Europe: it had only 279 million active daily users in the second quarter, compared to 282 million users in the previous quarter. Finally, the company has missed its financial targets, sending its stock plunging by 19% overnight on the NASDAQ, from US$217.5 to US$175. The overall devaluation of 119 billion dollars is the heaviest one-day loss recorded in the market’s history.

Recode, “Facebook’s user growth has hit a wall.”