Facebook advances in pre-market after long service outage

[PARIS] Facebook Inc climbed in US pre-market trading after an hours-long service outage that the company blamed on a problem with its network configuration.

The stock gained 1.5 per cent to US$331.20 at 4.30 am in New York, paring a 4.9 per cent slump on Monday tied to the service failure of its main app as well as Instagram and WhatsApp.

The downtime added to the pressure on the shares, which have fallen 15 per cent from their record high on Sept 7 through Monday's close. A former employee accused the company of prioritising profits over user safety. She has handed thousands of damning documents to US law-makers and the Wall Street Journal, which last month reported on Facebook's struggles with content moderation and Instagram's negative psychological effect on teenagers.

BLOOMBERG

READ MORE:

• Facebook says root cause of outage was faulty configuration change
• Facebook, Instagram appear to reconnect after nearly six-hour outage