The drop comes after Facebook reported a 51% rise in expenses compared to its total in 2018.
stock fell as much as 8% as the market opened Thursday after it reported fourth-quarter earnings Wednesday evening.
The drop erased more than $50 billion from the social media giant's market cap, which now sits below $600 billion.compared to its total in 2018. The expenses were largely related to the company's privacy and security improvements. That coincides with a drop in the company's operating margin, which fell from 45% in 2018 to 34% in 2019.
In addition to the increased expenses, Facebook also warned of advertising headwinds related to privacy and regulatory changes on the horizon, leading to slowing growth in the U.S. Facebook said privacy improvements on
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