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Facebook stock falls 24 percent on forecast for slowing growth, rising expenses

Facebook stock falls 24 percent on forecast for slowing growth, rising expenses

Facebook stock falls 24 percent on forecast for slowing growth, rising expensesTotal expenses in the second quarter surged to $7.4 billion, up 50 percent compared with a year ago. “Our total revenue growth rates will continue to decelerate in the second half of 2018, and we expect our revenue growth rates to decline by high single-digit percentages from prior quarters sequentially in both Q3 and Q4,” said Chief Financial Officer David Wehner. Expenses are expected to grow 50 percent to 60 percent compared with last year as the company invests in security, marketing and content acquisition, he said.

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