FILE PHOTO: An Apple logo is pictured in an Apple store in Paris, France September 17, 2021. REUTERS/Gonzalo Fuentes/File Photo
November 8, 2021
(Reuters) – A privacy update rolled out by Apple Inc in April for its iPhones has sparked uproar from major social-media companies such as Meta Platforms Inc and Snap Inc, which have warned of a prolonged hit from the changes.
The update to Apple’s operating system prevents advertisers from tracking iPhone and iPad users without their consent.
Meta-owned Facebook has said the change would hurt small businesses because it would impede their ability to cost-effectively find local customers to target with advertisements.
Below is a list of companies that have been hit by the recent changes.
COMPANY COMMENT
REVENUE
Meta Warned that Apple’s new privacy
Platforms Inc changes would weigh on its digital Q3 miss
business in the current quarter.
Earlier in December, Meta accused
Apple of engaging in anticompetitive
practices.
Snap Inc Snap Chief Executive Evan Spiegel
said Apple’s privacy changes have Q3 miss
been a “frustrating setback” for the
company. Expects the impact to
linger through the fourth quarter.
Peloton Executives said company was seeing
Interactive some “disruptive impact” from Q1 miss
Inc Apple’s privacy changes, making it
harder for Peloton to efficiently
acquire customers.
Twitter Inc Said it saw a “modest” impact to ad
revenue due to the privacy changes. Q3
Added that it was too early to in-line
assess long-term impact.
Zynga Inc Said adoption of Apple’s privacy
changes resulted in a higher cost to Q2 miss
acquire new players. (reports
Expects short-term pressure on Q3 on Nov
advertising revenue and bookings to 8)
be more pronounced in the third
quarter.
Poshmark Inc Chief Executive Officer Manish
Chandra told Reuters the company Q2 beat
felt the impact of Apple’s new (reports
policy late in the second quarter Q3 on Nov
and expects it to continue into the 9)
current quarter.
(Reporting by Tiyashi Datta in Bengaluru; Editing by Aditya Soni)
Source: One America News Network
