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Facebook is slipping after announcing it disabled more 583 million fake accounts (FB)

Jacob Sonenshine
hacker

Gorodenkoff/Shutterstock

 

  • Facebook is sliding Tuesday, after the company announced it shut down 583 million fake accounts in the past three months. 
  • Facebook has made an effort of late to be more transparent about issues on its platform. 
  • Watch Facebook trade in real time here.

Facebook shares slid as much as 2% Tuesday morning after it announced it had disabled 583 million fake accounts over the last three months.

The 583 million disabled accounts is down from the 694 million accounts Facebook disabled in the fourth-quarter of 2016. Facebook also recently published a community standards reportfinally releasing the full internal guidelines its content moderators use to police the social network.

The company estimates that 3% to 4% of its monthly active users are “fake,” up from 2% to 3% in Q3 of 2017, according to filings. Facebook had 2.2 billion monthly active users in the first-quarter of 2018, according to its latest earnings press release.

Facebook is still up 1.8% on the year. 

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