facebook warns decelerate significantly mandates vaccine

FACEBOOK WARNS DECELERATE SIGNIFICANTLY MANDATES VACCINE UPDATE

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. 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.

FACEBOOK WARNS DECELERATE SIGNIFICANTLY MANDATES VACCINE UPDATE

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.

The iPhone maker's privacy changes make it harder for apps to track users and restrict advertisers from accessing valuable data for targeting ads. The company also announced on Wednesday that it would require anyone working at its U.S. offices to be vaccinated against COVID-19. 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. 'The user growth slowdown is notable and highlights the engagement challenges as the world opens up. 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.

Facebook warns decelerate significantly mandates vaccine