Facebook warned that the pace of its revenue growth would “decelerate significantly” in forthcoming quarters, sending its shares down in after-hours trading.
The warning from the social network came as it posted bumper revenues and profits for the second quarter. Mark Zuckerberg’s social media company reported a 56 per cent rise in second-quarter revenues to $29.1bn, beating analysts’ expectations of $27.9bn.
The company attributed the growth to a 47 per cent increase in the price of ads, signalling strong demand from brands.
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