“Snap stock plummets 25% after iOS ad tracking changes hit revenue”
October 25, 2021
“Snapchat’s parent company crossed $1 billion in quarterly revenue for the first time ever, but worse-than-expected earnings and a forecast of more headwinds to come led its stock to crash on Thursday.Shares of Snap (SNAP), which owns the popular photo and video app, plunged as much as 25% in after-hours trading following the company’s earnings report Thursday. The report warned that its revenues had been affected by changes to advertising metrics on iPhones.The company “grappled with industry changes to the way advertising is targeted, optimized, and measured on iOS that created a more significant impact on our business than we had expected,” Snap’s chief business officer, Jeremi Gorman, said in prepared remarks, referring to Apple’s smartphone operating system…”
https://www.cnn.com/2021/10/21/tech/snap-stock-plunges-ios-ads/index.html