Feeds

Nearly 2 MILLION US Facebook users quit social network

Wall Street bitches... bitch

The Essential Guide to IT Transformation

Shares in Facebook continued to slide on Tuesday, after an analyst claimed the dominant social network had seen a modest drop in its userbase.

Capstone Investment's Rory Maher said Mark Zuckerberg's company suffered a 1.1 per cent fall in US users over the last six months. The number of European Facebookers had also declined, he added.

Meanwhile, Facebook's stock hit a month-long low yesterday finishing the day at $28.09 on Nasdaq, after falling some 8 per cent at the start of the week.

Maher's methodology was based on proprietary software his outfit had used to track how many people were accessing Facebook over the past two quarters in more than 200 countries on 500 user pages.

He also spotted that Facebook had hit a wall in terms of trying to build its userbase in the 23 countries where the network had already surpassed 50 per cent of the population.

Only nine of those countries actually exceeded the 50 per cent userbase in the last three months. But the remaining 14 countries either saw minor changes (UK growth was flat, for example) or had fewer signups to Facebook.

The company claims to have around 900 million people worldwide using Facebook. And it has previously said in regulatory filings that it needed to penetrate other markets, such as China, to help generate growth in its userbase.

It has also noted the plateau effect of user growth in its more mature markets.

Either way, Wall Street clearly took umbrage with Facebook yesterday, and as noted by Forbes the company's Q2 earnings report due on 26 July may well be making some investors rather twitchy.

The Register asked Facebook to comment on this story, but it hadn't got back to us by the time of publication. ®

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.