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 expects further ‘headwinds’ from Apple privacy changes Source link Facebook expects further ‘headwinds’ from Apple privacy changes
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