Facebook's recent shifts away from viral content, news, and video are already having an impact, said CEO Mark Zuckerberg as part of the company's latest quarterly report.

Why it matters: It's been a year of reckoning for the social network, which has had to deal with its influence over people's news diet and sharp criticism over its ability to exploit human psychology for attention. These forces led Facebook to change the newsfeed algorithm to focus more on content posted by friends rather than publishers.

The bottom line: Facebook's stock price is down nearly 5% in after-hours trading.