Facebook surpassed the ten-percent mobile browser market share mark in a number of U.S. states, new data compiled by research firm Mixpanel shows. The states that are presently most receptive of the company's flagship mobile app in the context of Internet browsing are Washington and Rhode Island where the tool holds a market share of 13.74- and 13.14-percent, respectively. The duo is closely followed by Montana where 12.64-percent of all mobile Internet traffic goes through the Facebook app for Android and iOS.
While the data indicates the company's efforts to keep users within its ecosystem may be working on a smaller scale, Facebook's overall engagement rates in the United States disappointed investors following the publication of the tech giant's consolidated financial report for the second quarter of the year, prompting them to erase over $120 billion in its market valuation late last month. The firm's efforts to fight misinformation and low-quality content so as to ensure any time spent on its social media network is "time well spent," as CEO Mark Zuckerberg previously put it, resulted in its revenue and profit margin growth projections for the second half of the year being revised, with Facebook now being much less optimistic about its near-term prospects.
Moving forward, the company will be trying to push for higher engagement rates through video content that it's primarily delivering through its Watch platform meant to rival YouTube, with financial services reportedly also being considered even as they raise major privacy concerns. 2018 has been a turbulent year for Facebook so far, with the firm's stock struggling to maintain consistent performance between the Cambridge Analytica scandal and misinformation probes, as well as departures of some senior executives such as Chief Security Officer Alex Stamos who announced his plan to leave the Internet juggernaut last week. Facebook's next major product bet is expected to be announced in the form of two display-equipped smart speakers this fall, according to numerous insiders.