Facebook Says Apple Ad-Tracking ‘Headwinds’ Will Slow Growth
- Social network takes cautious tone on outlook for rest of 2021
- Shares slide on concern that revenue gains will decelerate
This article is for subscribers only.
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.