Snapchat blames Apple’s privacy changes for missing revenue expectations

Snap witnesses stock tumbling 22 per cent after missing revenue expectations for its third-quarter (Q3) earnings. The daily active users on Snapchat increased 23 per cent (year-over-year) to 306 million. The shares fell as Apple’s iPhone privacy changes disrupted Snap’s advertising business. (Image: Pixabay) Snap witnesses stock tumbling 22 per cent after missing revenue expectations for its third-quarter (Q3) earnings. The daily active users on Snapchat increased 23 per cent (year-over-year) to 306 million. The shares fell as Apple’s iPhone privacy changes disrupted Snap’s advertising business. Also Read – Tesla should make EVs in India to seek tax benefits: Niti Aayog suggests In an earnings call late on Thursday, Snap CEO Evan Spiegel said that the company missed the lower end of its guidance due to a few key factors, including changes to advertising tracking on iOS and macroeconomic factors that have impacted our advertising partners. Also Read – Redmi Note 11 series to cost cheaper than Redmi Note 10 Pro Max? “Our advertising business was disrupted by changes to iOS and tracking that were broadly rolled out by Apple in June and July. While we anticipated some degree of business disruption, the new Apple provided measurement solution did not…
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