Apple released its earnings on Thursday showing record profits and growth in parameters like device sales among others even with increasing operating costs and a momentary fall in share prices.
Facebook, on the other hand, is beginning to experience the effects of multiple bad publicity from the personal data leaks scandals with slowing growth.
Facebook has hinted things will slow down soon.
Facebook has now commented on how the company will slow down growth, in terms of revenue generation.
Facebook predicts a tough next couple of years and talks about its planned move away from News Feed which has been its core content streaming model at present. The company has said it will instead focus more on different mediums like ephemeral messaging private chats and video – even though none of those make as much money as the News Feed does.
‘We have great products people love, but it will take us some time to catch up,’ Mark Zuckerberg, Facebook’s chief executive, said in a conference call with investors. ‘It will take some time, and our revenue growth will be slower.’
Facebook disclosed its vision for the future along with its quarterly financial results, which showed slowing growth in revenue and in the numbers of new users. The earnings report followed a difficult 18 months for the firm, which has been under scrutiny for spreading disinformation, hate speech and leaks of user data. Facebook’s business had initially withstood the scandals, but its growth had recently started to flag.