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.
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.
Please download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for more updates.
[via 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.
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.
Please download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for more updates.
[via CNBC]