The social media presented the results for the third quarter of the year, and now they warn about uncertain times due to Apple’s iOS 14 changes
Fb kicked off the profit season for the retailer technology companies.
Advertising revenue ended at 28.28 billion greenback, lower than analysts expected. Analysts had previously expected 28.99 billion greenbacks from advertising, an increase of 36.62 percent from the previous year, according to Bloomberg.
Quarterly result after tax ended at 9.1 billion greenback, up from 7.8 billion at the same time last year.
– We made good progress this quarter and our society continues to grow, says Designate Zuckerberg in a press release.
– I look forward to our roadmap, especially around creators, trade and help to build the meta-verse, he continues.
Fb writes that the outlook is characterized by uncertainties in light of headwinds from Apple’s software update, macroeconomic and covid-related factors. In addition, they expect non-advertising revenues to fall in the fourth quarter compared to last year.
Last week, Snapchat released its third-quarter results. It was characterized by the fact that Apple’s new privacy approach is causing advertising trouble.
Apple’s privacy move causes ad trouble for Snap
The privacy approach gives the digital platforms less opportunities to collect records data, which weakens the ability to personalize advertising, the news agency explains.