Facebook warns about Apple privacy rules' impact on digital business in current quarter
The company posted slower growth in the first full quarter
After seeing the impact of Apple's privacy rules on its sales growth for the previous quarter, Facebook has sounded alarm bells about the same impacting its digital business in the current quarter. The company blamed Apple Inc rules for its lacklustre performance and expressed concerns about its impact on its ad business.
Facebook's ad sales, considered to be its primary source of revenue, saw sluggish growth in the quarter since Apple rolled out its updated privacy policy. As per the new rules, Apple users could opt out of being tracked, preventing advertisers from targeting potential buyers.
The company said that in Q4, it will roll out the Facebook Reality Labs that focuses on augmented and virtual reality. The new service will be separate from its apps.
The company's total revenue grew to $29.01 billion in the third quarter from $21.47 billion in the previous year. The company expects its Q4 revenue to be between $31.5 billion to $35 billion.
