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Facebook warns again on ad growth, shares dip from high

Wednesday, May 03, 2017 - 00:50

Facebook shares dipped from a record high after the company warned that advertising revenue growth would likely come down from current high levels. Ben Gruber reports.

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Facebook shares closed at $153.60 on Wednesday, a record high after reporting their 1st quarter earnings -- which saw the social media giants profits rise more than 76 percent year-over year to more than $3 billion dollars. Total revenue went up 43 percent to just over $8 billion dollars. In a conference call, the company warned investors that it expects is ad revenue growth to come down significantly over the rest of 2017. In an effort to protect the company's valuable public image, CEO Mark Zuckerberg announced Facebook would add 3000 employees over the next year to speed up the removal of videos showing murder, suicide and other violent acts.

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Facebook warns again on ad growth, shares dip from high

Wednesday, May 03, 2017 - 00:50