4 Min Read
(Reuters) - Facebook Inc soundly beat quarterly revenue estimates on Wednesday after heavy holiday advertising by e-commerce retailers, but it warned Apple’s impending privacy changes could hurt revenue by interfering with ad targeting.
The world’s biggest social media company said it expected to face “significant ad targeting headwinds in 2021.” Facebook forecast that Apple’s update of its iPhone operating system to iOS 14 could start biting into revenues as early as the end of the first quarter.
Shares were flat after hours following an initial drop.
The fourth-quarter results validated the company’s focus on making it easier for retailers to sell products to Facebook users, who frequently were stuck at home last year during the COVID-19 pandemic.
4 Min Read
(Reuters) - Facebook Inc soundly beat quarterly revenue estimates on Wednesday after heavy holiday advertising by e-commerce retailers, but it warned Apple’s impending privacy changes could hurt revenue by interfering with ad targeting.
The world’s biggest social media company said it expected to face “significant ad targeting headwinds in 2021.” Facebook forecast that Apple’s update of its iPhone operating system to iOS 14 could start biting into revenues as early as the end of the first quarter.
Shares were flat after hours following an initial drop.
The fourth-quarter results validated the company’s focus on making it easier for retailers to sell products to Facebook users, who frequently were stuck at home last year during the COVID-19 pandemic.