The social media giant said it faces “ad targeting headwinds in 2021 from regulatory and platform changes,” sending the shares down as much as 5.2% in extended trading.
Facebook has been telling investors that Apple’s new restrictions on data collection on iPhones, which require users to explicitly allow app makers to track their activity, could curb future growth by hampering its ability to sell targeted advertising…
The company has said for several quarters that its advertising business faces risks from Apple’s recent iOS software update, which asks users of each app whether they are willing to allow their activity to be followed across the internet. Apple’s changes will have a greater impact in the third quarter than they did in the June period, Facebook Chief Financial Officer Dave Wehner said in the statement.
Via: Bloomberg News
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