FB two quarter performance disappointing hedge fund selling all FB stock holdings

FB two quarter performance disappointing hedge fund selling all FB stock holdings

Sina Technology News Beijing time in the late August 1st news, hedge fund Third Point founder Daniel Loeb (Daniel Loeb) today, said that because of the second quarter results of Facebook disappointing, Third Point has sold its 4 million shares of Facebook shares.

"Yes, that's a very disappointing quarterly performance. We no longer hold shares," Loeb said.

Last week, Facebook released its second quarter earnings for the 2018 fiscal year ending June 30th. Revenue was $13 billion 231 million, an increase of 42% over the same period last year of $9 billion 321 million, less than Wall Street analysts expected. Net profit was 5 billion 106 million US dollars, an increase of 31% over the same period last year's net profit of US $3 billion 894 million.

The results also showed that the average number of active Facebook users per day in June was 1.47 billion, lower than the average analyst forecast of 1.49 billion. The monthly number of active users was 2 billion 230 million, lower than the average 2 billion 250 million expected by analysts.

In addition, Facebook warned that revenue growth would continue to slow and profit margins could be affected by the growing cost of user privacy. Affected by this, Facebook shares fell 19%, and its market value shrank by nearly $120 billion.

As early as August 2016, Third Point said in the 13-F document submitted to the securities and Exchange Commission that 375 thousand shares of Facebook shares were purchased in the second quarter of the year, worth $428 million 550 thousand. (Li Ming)

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