Facebook Revenue Misses in Q3; Apple iOS Changes to Dent Q4 Growth

. Facebook Earnings Beat, Revenue Misses In Q3

By Yasin Ebrahim

Investing.com – Facebook reported mixed third-quarter results as revenue missed Wall Street estimates, while guidance also fell short as Apple (NASDAQ:AAPL)’s iPhone iOs changes are expected to weigh on growth.

Facebook (NASDAQ:FB) rose 2% in after market hours.

Facebook announced earnings per share of $3.22 on revenue of $29.01 billion. Analysts polled by Investing.com anticipated EPS of $3.19 on revenue of $29.5 billion.

Advertising revenue rose 33% to $28.28 billion while other revenue jumped 195% to $734 million.

Daily active users (DAUs) rose 6% to 1.93 billion, while monthly active users (MAUs) rose 12% to 2.90 billion, compared with consensus estimates of 1.92 billion and 2.93 billion respectively.

Facebook also announced a $50 billion increase in its share repurchase authorization.

Looking ahead, the company expects fourth quarter 2021 total revenue to be in a range of $31.5 billion to $34 billion, compared with estimates of $34.84 billion.

The company flagged the impact on growth from Apple’s privacy-related changes to its mobile operating system, iOS.

“Our outlook reflects the significant uncertainty we face in the fourth quarter in light of continued headwinds from Apple’s iOS 14 changes, and macroeconomic and COVID-related factors,” Facebook said.

Earlier this year, Apple announced that, as part of the iOS 14 update, it would give users the option to block apps from accessing the IDFA, or tracking advertiser on their iPhones.

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