Facebook revenue misses estimates as Apple's privacy rules bite


Reuters | Updated: 26-10-2021 01:44 IST | Created: 26-10-2021 01:36 IST
Facebook revenue misses estimates as Apple's privacy rules bite
Representative image Image Credit: ANI

Facebook Inc on Monday missed Wall Street estimates for quarterly revenue, as the social media giant faced the brunt of Apple Inc's new privacy rules that kept digital advertisers from using its ad services.

The company's total revenue, which primarily consists of ad sales, rose to $29.01 billion in the third quarter from $21.47 billion a year earlier, missing analysts' estimates of $29.57 billion, according to IBES data from Refinitiv.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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