The company brings in about $13 million in sales per hour.
Facebook, Instagram and WhatsApp went dark Monday—bringing the economic engine of Facebook, Inc. to a halt.a little more than five hours later. So how much damage did that do to Facebook?
Here’s a back-of-the-envelope estimate: about $65 million. To get there, I reasoned that since Facebook brought in $29.1 billion in revenue during the second quarter, it’s collecting about $970 million a month in sales. About $313 million per day—or roughly $13 million per hour. on CEO Mark Zuckerberg’s personal figures. As Facebook stock slid 4.8% in trading Monday, Zuckerberg’s fortune declined by $5.9 billion.
Facebook’s mighty business model, the one capable of generating almost a billion dollars a day in revenue, will be shoved into the spotlight by Congress Tuesday morning. Facebook whistle-blower Frances Haugen, a former product manager at the company, will testify before a Senate subcommittee and that Facebook ignored internal research about how its platforms promote toxic content and harm their users.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Facebook Lost About $65 Million During Hours-Long OutageThe company brings in about $13 million in sales per hour.
Read more »
Facebook, Instagram outages mean some small businesses lost thousands in revenueEspecially in a period of remote operations, many workers' livelihoods have come to depend on social media platforms.
Read more »
Stanley Tucci Lost 30 Pounds and His Sense of Taste Amid Cancer Battle'It's a small price to pay for being alive and being able to enjoy the company of my family.'
Read more »
'I Lost 100 Pounds During The Pandemic After I Discovered AKT Workouts'During the pandemic, Jennifer Jewett took charge of her health by focusing on clean eating with nutritious foods and the dance workouts she loves.
Read more »
Dakota Johnson Says Maggie Gyllenhaal Took Her “Emotional Scuba Diving” for The Lost DaughterThe cast of the upcoming Netflix film had a happy reunion in New York, with Jessica Chastain joining the chorus of praise.
Read more »
'Squid Game' Fan Says Some Nuances of Thriller Lost in the Translation -- LiterallyOne ‘Squid Game’ fan says some nuances of the thriller where lost in the translation — literally.
Read more »