Facebook Shares Under Pressure Amid More Metric Miscalculations

Facebook Inc FB acknowledged back in September that it made some calculation mistakes in some of the metrics provided to advertisers.

Facebook's mistakes vastly overestimated the average viewing time for video ads on its platform. The company vowed to correct the mistake and appeared to have succeeded in damage control.

However, The Wall Street Journal is reporting that Facebook uncovered several additional calculation errors. An internal metrics audit discovered that discrepancies led to the miscalculation of four additional metrics, including weekly and monthly reach of marketers' posts, the number of full video views and time spent with publishers' Instant Articles.

Shares of Facebook were trading lower by more than 2 percent ahead of Wednesday's open. The company's vice president of core ads Mark Rabkin said that none of the metrics in question will impact its billings.

Facebook felt it was prudent to disclose the miscalculated metrics to the public so that it can provide "clarity and confidence" to advertisers and investors.

The problem is that while some advertisers and investors may have given Facebook a free pass in September, this may not necessarily be the case moving forward. The stock also appears to have lost some support among Wall Street analysts, the most recent case consists of analysts at MKM Partners arguing that Facebook is a "challenging stock" in the near-term.

To help ease concerns, the social media company will now work with Nielsen to count Facebook video views as part of Nielsen's Digital Content Ratings metric.

Facebook will also create a Measurement Council which makes up for marketers and ad agency executives.