Facebook Says Apple Ad-Tracking ‘Headwinds’ Will Slow Growth (2)
By Naomi Nix
July 28, 2021, 10:54 PM
Facebook Inc. reported higher second-quarter sales and profit but struck a cautious tone looking ahead, saying growth could stall as Apple Inc.’s new rules pinch data collection on mobile devices and as pandemic-fueled advertising gains subside.
The social media giant said it faces “ad targeting headwinds in 2021 from regulatory and platform changes,” sending the shares down as much as 5.2% in extended trading.
The warning came as the company reported quarterly sales climbed 56% to $29.1 billion, compared with the $27.9 billion average estimate of analysts, according to data compiled by Bloomberg. In a statement Wednesday, Facebook reported 1.91 ...