While the boycott could get lots of attention when FB reports after the market closes on Wednesday, so will the usual factors like monthly user numbers.
In an effort to offset the effects of dwindling ad revenue as well as capture a larger share of the e-commerce market, Facebook introduced Facebook Shop — a free service that makes it easy for businesses to set up a single online store to be availed by customers on both Facebook and Instagram.
Facebook Shop will be powered by third-party services, including Shopify SHOP, BigCommerce, and Woo. The company’s e-commerce push is expected to grab limelight in the to-be-reported quarter.
Facebook also announced an investment of $5.7 billion to buy a 10% stake in Jio Platforms Limited, the digital arm of Reliance Industries. The move is expected to bring together Facebook’s WhatsApp with JioMart, a joint venture between Jio and Reliance Retail to enable people to connect with businesses.
Shares of the social network platform are trading at $233.50 ahead of its second-quarter earnings call.