Facebook faces loss of 1m European users
Facebook's user numbers may have tumbled by as much as 1m in Europe over the summer amid tough new data privacy laws.
The social network is expected to report a fall during the last three months when it releases it financial results at the end of October.
It comes after Facebook required hundreds of millions of European users to either opt in to having data collected or stop using the site.
The results come after a data scandal that saw the personal data of tens of millions of Facebook profiles sold to research firm Cambridge Analytica and used for political advertising.
Morgan Stanley estimated North American and European user numbers could be down by up to 1m for the quarter.
The bank said Facebook could see up to 3m regular EU users slip away.At its earnings call in May, Facebook chief financial officer David Wehner said it expected daily active users and monthly active users to be “flat to slightly down… as a result of the GDPR roll-out”.
A decline in user numbers would add to fears that the company’s biggest markets have become saturated.
