November 7, 2024
Facebook Says Apple Privacy Changes Will Cost It $10 Billion in 2022

Facebook Says Apple Privacy Changes Will Cost It $10 Billion in 2022

Posted February 3, 2022 at 4:40pm by iClarified
Facebook has revealed that Apple's App Tracking Transparency requirement will cost the company $10 billion in 2022. The company disclosed the number on its first earnings call as Meta, reports CNBC.

“We believe the impact of iOS overall is a headwind on our business in 2022,” Meta CFO Dave Wehner said on a call with analysts after the company’s fourth-quarter earnings report. “It’s on the order of $10 billion, so it’s a pretty significant headwind for our business.”

Meta's stock dropped 23% in extended trading on Wednesday after reporting weaker than expected earnings. It also forecasted first quarter revenue of $27 - $29 billion, under expectations of over $30 billion.


Facebook Says Apple Privacy Changes Will Cost It $10 Billion in 2022

Notably, Meta says the $10 billion revenue hit due to ATT is an estimate.

“We’re just estimating what we think is the overall impact of the cumulative iOS changes to where the 2022 revenue forecast is,” Wehner said. “If you aggregate the changes that we’re seeing on iOS, that’s the order of magnitude. We can’t be precise on this. It’s an estimate.”

You can learn more about App Tracking Transparency here.


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[via CNBC]


Facebook Says Apple Privacy Changes Will Cost It $10 Billion in 2022
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Comments (2)
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digihead
digihead - February 6, 2022 at 1:18pm
That's great! Don't feel any sympathy for them 👍🏻
onereader
onereader - February 3, 2022 at 6:58pm
Finally they started to feel the pain…
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