Facebook anticipates further “headwinds” due to changes in Apple’s privacy

Facebook warned that this quarter’s earnings would be further hit by changes in Apple’s privacy. This is the latest hurdle for an ongoing social media company. Public relations crisis Caused by a leak of internal documents.

Facebook said on Monday that revenue for the three months to the end of December would be between $ 31.5 billion and $ 34 billion, and Apple’s to obtain explicit permission to track users for ad targeting purposes. Quoted “continuous headwinds” from the requirements. Analysts predicted a jump to $ 34.8 billion, according to S & P Capital IQ.

Revenues in the third quarter increased 35% to $ 29.01 billion, just below the consensus expectation of $ 29.5 billion. Monthly active users increased 6% year-on-year to 2.91 billion, just below the consensus estimate of 2.98 billion.

Facebook revenue at a glance

actual Against estimate

Revenue: $ 2.901 billion Against $ 29.5 billion

net income: $ 9.19 billion vs $ 9.16 billion

EPS: $ 3.22 vs $ 3.17

Advertising sales: $ 28.27 billion vs $ 29.02bn

Monthly active users: 2.91 billion Against 2.98 billion

Source of quotes: S & P Capital IQ and Refinitiv

The latest revenue report looks like this Facebook Many journalists fight a torrent of negative press after accessing thousands of pages of leaked documents that have turned from former employees to whistleblowers.

Together, the document revealed the company’s struggle to curb false information and hate speech on the platform and the growth challenges among the younger user base.

Facebook also said it plans to analyze the performance of the Facebook Reality Labs unit, which builds virtual reality and augmented reality products, from other businesses starting in the fourth quarter. The recent promotion of investment in FRL is expected to reduce operating profit in 2021 by about $ 10 billion.

The company also announced that it would increase its share buyback program by $ 50 billion.

Facebook anticipates further “headwinds” due to changes in Apple’s privacy

Source link Facebook anticipates further “headwinds” due to changes in Apple’s privacy

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