Company Of The Day: Facebook
What?
Facebook(NASDAQ:FB) issued an update on its blog indicating that Apple’s ad changes in the iOS 14 operating system – which require developers to ask permission from iPhone users before tracking them across apps and websites – were continuing to impact Facebook’s ad business. Apple’s changes make it harder for marketers to track the effectiveness of ads on Facebook’s platform.
So What?
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A mid-quarter update is usually rare for Facebook and this could indicate that the headwinds are meaningful. Facebook stock declined by about 4% in Wednesday’s trading.
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