Home > Latest News > Facebook Loses Millions in Revenue After Monday’s Outage 

Facebook Loses Millions in Revenue After Monday’s Outage 

It is suffice to say that Facebook will not be having a good week nor month.  

After Monday’s global outage some have estimated that the company had lost as much as US$100 million in revenue. 

New York Post reports Facebook chief technology officer Mike Schroepfer offering his sincerest apologies to users of the popular social media platform after the outage lasted for six hours straight. 

Facebook’s vice president of infrastructure Santosh Janardhan apologised in a blog post stating that the outage was not a result of any malicious activity. 

The publication also reported that the outage caused the company to lose some US$50 billion off  its market cap. 

However on Tuesday, the company’s share rebounded by two per cent and was trading at about US$332.96 per share by mid-day. 

Meanwhile,the publication also reported that users around the world enjoyed their time reading and reconnecting with friends when Facebook and Instagram went down for a few hours. 

You may also like
BREAKING: Facebook Planning To Rename
ACCC Seeks New Powers To Curb Tech Sector
iOS Users Like Tik Tok, Android Prefers Facebook: Survey
Zuckerberg Shows Off Bulky VR Prototype
Scott Morrison Wants Tech Giants To Control The Trolls