In addition, the company has warned that its digital activities will be negatively impacted by Apple’s new privacy policy in the current quarter.
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Facebook predicted its revenue in the fourth quarter to range from $ 31.5 billion to $ 34 billion. It is thus more pessimistic than analysts, who estimated Refinitiv in an estimated $ 34.84 billion in revenue.
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“Our outlook reflects the significant uncertainty we face in the fourth quarter due to the continuing negative impact of changes in Apple’s iOS 14 (operating system) as well as macroeconomic and covid-related factors,” Facebook said in its results report.
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Apple’s new policy requires developers of iPhone applications to begin asking users for permission to collect certain data for advertising purposes. Facebook has previously said that this requirement will harm not only its business, but also small businesses that rely on personalized advertising.
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The change in Apple’s rules had a negative effect on Facebook’s activities in the third quarter. However, the company’s advertising revenue rose a third year-over-year to $ 28.3 billion.
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