But importantly, Facebook is the most exposed to Apple's privacy changes, and it looks like it is starting to have an impact to the outlook beginning in 3Q," said Ygal Arounian, an analyst at Wedbush Securities. "The user growth slowdown is notable and highlights the engagement challenges as the world opens up. Monthly active users came in at 2.90 billion, up 7% from the same period last year but missing analyst expectations of 2.92 billion and marking the slowest growth rate in at least three years, according to IBES data from Refinitiv. offices to be vaccinated against COVID-19. The company also announced on Wednesday that it would require anyone working at its U.S. The iPhone maker's privacy changes make it harder for apps to track users and restrict advertisers from accessing valuable data for targeting ads. Facebook said it expects Apple's (AAPL.O) recent update to its iOS operating system to impact its ability to target ads and therefore ad revenue in the third quarter. REUTERS/Eric Gaillard/File Photo July 28 (Reuters) - The warning overshadowed the company's beat on Wall Street estimates for quarterly revenue, bolstered by increased advertising spending as businesses build their digital presence to cater to consumers spending more time and money online. The tech world is under antitrust scrutiny more broadly as lawmakers zero in on big industry players.A Facebook panel is seen during the Cannes Lions International Festival of Creativity, in Cannes, France, June 20, 2018. The company said it continues "to expect increased ad targeting headwinds in 2021 from regulatory and platform changes, notably the recent iOS updates." Investors were watching how a new privacy update from Apple would impact its bottom line. By Elizabeth Culliford and Nivedita Balu (Reuters) -Facebook Inc said on Wednesday it expects revenue growth in the third and fourth quarters to 'decelerate significantly,' sending the social media giant's shares down about 5 in extended trading. staff The companys total revenue, which primarily consists of ad sales, rose to 29. Congress unveiled the package of five antitrust bills in mid-June. Facebook warns growth to slow significantly, mandates vaccine for U.S. The company's earnings come after it decided in early June that former President Donald Trump will be suspended from the platform until at least January 2023.įacebook and its Big Tech peers also face potentially new legislation designed to keep them from growing too large and powerful. Total monthly active users (MAUs): 2.9 billion. Earnings per share (EPS): 3.61 versus estimates of 3.02. Facebook passed that mark after a US court threw out the Federal Trade Commission antitrust lawsuit against the company, as well as one put forward by state attorneys general.įacebook is the fifth US company to hit the $1 trillion market cap milestone. Here's a look at the key numbers: Revenue: 29.1 billion versus 27.9 billion expected. The company hit a major milestone during its second quarter, surpassing a $1 trillion market capitalization in late June. Shares fell about 4.5% in late trading following the release. User numbers ballooned during 2020, as the pandemic kept people inside and online, but the firm said: "We expect year-over-year total revenue growth rates to decelerate significantly" in the second half of 2021. The total number of ads delivered rose 6% year-over-year, Facebook said, while revenue from the segment was up 47%. Fresh and trending news about Facebook business, finance, employment, product, technology and related Press J to jump to the feed. Facebook's MAU count is tied to its lucrative advertising business. 32 members in the Newsfacebook community.
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