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    AAPL   US0378331005

APPLE INC.

(AAPL)
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Apple : Facebook warns it is 'underreporting' iOS ad results amid Apple privacy changes

09/22/2021 | 11:22am EDT
FILE PHOTO: The Facebook logo is displayed on a mobile phone

(Reuters) - Facebook Inc said on Wednesday it is underreporting the results of its advertising business on Apple Inc iOS devices, acknowledging that recent privacy changes from the iPhone maker have made it more expensive and difficult for brands to advertise on Facebook.

Shares of the social media giant were down 3.7% at $344.32 in morning trading.

Facebook said in a blog post it estimates it is underreporting "conversions," an industry term that includes buying of products or other actions a person takes after seeing an ad, by 15%, adding that the figure varied among individual advertisers.

Facebook said it believed actual conversions such as sales and app downloads are higher than reported.

The announcement comes as Facebook and the larger digital advertising industry continues to grapple with the privacy controls implemented by Apple in April https://www.reuters.com/technology/what-do-apples-new-iphone-privacy-changes-mean-consumers-businesses-2021-04-26, which are designed to limit digital advertisers from tracking iPhone users for advertising purposes without their consent.

Facebook fought back https://www.reuters.com/technology/facebook-bring-changes-advertising-privacy-following-apples-upcoming-ios-update-2021-04-21 against the changes, arguing it would hurt small businesses that rely on targeted advertising to find new customers.

The social media company previously warned investors that there would be "greater impact" of the Apple changes on Facebook's ad business during the third quarter compared with its second quarter.

In Wednesday's blog post, Facebook outlined steps advertisers should take to better measure the results of their ads. The company said it is investing in new tools and capabilities to help brands with their marketing amid the Apple changes.

(Reporting by Sheila Dang in Dallas; Editing by Matthew Lewis)

By Sheila Dang


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 0.32% 149.3699 Delayed Quote.12.06%
FACEBOOK INC -0.72% 320.6399 Delayed Quote.18.84%
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Analyst Recommendations on APPLE INC.
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Financials (USD)
Sales 2021 367 B - -
Net income 2021 93 942 M - -
Net cash 2021 76 159 M - -
P/E ratio 2021 26,6x
Yield 2021 0,58%
Capitalization 2 458 B 2 458 B -
EV / Sales 2021 6,50x
EV / Sales 2022 6,31x
Nbr of Employees 147 000
Free-Float 99,0%
Chart APPLE INC.
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Apple Inc. Technical Analysis Chart | AAPL | US0378331005 | MarketScreener
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 43
Last Close Price 148,69 $
Average target price 166,31 $
Spread / Average Target 11,9%
EPS Revisions
Managers and Directors
Timothy Donald Cook Chief Executive Officer & Director
Luca Maestri Chief Financial Officer & Senior Vice President
Arthur D. Levinson Independent Chairman
Kevin M. Lynch Vice President-Technology
Jeffrey E. Williams Chief Operating Officer
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