FIRST AIRED: July 26, 2018

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Transcript

00:00:01
>> It could be a tough day for Facebook, the stock set up for at least a 20% fall when trading begins Thursday. Facebook results showing signs of strain as it grapples with fallout from the massive Cambridge data scandal. In the first full quarter since the revelation, 87 million Facebook users had personal data shared without their permission, growth in monthly active users came in below and less forecast.
00:00:28
And, we could have expected revenues and the surprise profit warning and Facebook shares could lose roughly $150 billion in stock market value.>> They are expecting revenue to continue to grow more slowly, their expenses are growing even faster in part because they're responding to these privacy issues around the world.
00:00:49
>> The world's largest social network has been under non-stop scrutiny by government agencies in several countries and the subject of a delete Facebook campaign. Not just for the breach but for claims, it helps promote hate speech and can be manipulated the political gain. In an effort to win that trust, Facebook has pledged to spend more to improve content and security.
00:01:14
But Wall Street is now clearly worried the spending may not buy back what Facebook has lost, credibility with users and investors.