By looking at the numbers, you’d never know that Facebook is in some of the hottest water it’s felt in its history. The company released its third quarter financial results amid blowback from highly negative news coverage based on internal documents leaked by whistleblower Frances Haugen.
Facebook reported revenue of $29.01 billion, which was slightly lower than analyst expectations. But earnings came in above analyst expectations at $3.22 per share. Its shares bounced up 3% on the news.
Apple as ‘major headwind’
Analysts and investors had been concerned that Facebook’s results would be depressed by Apple’s move to allow users of iOS devices to opt out of in-app ad tracking (Ad Tracking Transparency), allowing them to block the techniques that interactive advertising platforms, such as Facebook, Google, and Snap use to target ads and measure their performance. Snap’s stock took a 25% haircut after the company reported disappointing results and stated that Apple’s…
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Source : fastcompany.com
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