New York (CNN Business)Facebook’s growth is stalling. It’s spending billions of dollars and dedicating most of its resources to fix the problem, but Mark Zuckerberg says Facebook won’t right the ship for quite some time.
The company is gambling its future on Stories, which is growing in popularity but isn’t early as lucrative as Facebook’s News Feed. Facebook is also betting on its engineers’ ability to rid the platform of disinformation campaigns, abuse and hate speech.
Meanwhile, Facebook (FB
) is exhibiting all of the signs of a company in transition, and the new normal for Facebook isn’t pretty. Sales were up 33% last quarter
— the worst performance in six years. Profit grew only 9%, worst in more than three years.