Facebook forecasts Q4 revenue below estimates as Apple's privacy rules bite

Its third-quarter revenue too faced the brunt of Apple's 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.

Facebook Inc on Monday warned that Apple Inc's new privacy rules would weigh on its digital business in the current quarter, after the social media company reported quarterly revenue below market expectations.

The company expects fourth-quarter revenue to be in a range of $31.5 billion to $34 billion. Analysts had forecast $34.84 billion in revenue, or a 24.1% jump, according to IBES data from Refinitiv. Its third-quarter revenue too faced the brunt of Apple's 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.

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