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Facebook shares rise 3.1%, give Zuckerberg time to pursue new initiatives

Earlier this year, the company said revenue growth rates would decline in the third and fourth quarters, sending shares plummeting

Mark Zuckerberg, Facebook, fb

Mark Zuckerberg

Sarah Frier I Bloomberg
Facebook Inc. Chief Executive Officer Mark Zuckerberg is betting the company’s future on video and disappearing posts called "stories," not the company’s famous news feed. Investors are buying into the vision for now.

The newer products may make less money and steal user attention from the main stream of photos, comments and lucrative ads on the social network, Zuckerberg warned. Marketers aren’t totally comfortable with the new formats yet, and 2019 will be another year of significant investment, he added on a conference call with analysts Tuesday.

Still, the CEO said the opportunity will be bigger than the news feed over time.

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First Published: Oct 31 2018 | 10:19 AM IST

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