Meta shares drop over $79 after the company reported a rather bleak forecast for 2022.
, Facebook had what you might call a"shit fit." Facebook co-founder and CEO Mark Zuckerberg accused Apple of harming small businesses and even had two full-page ads published in big-city newspapers to broadcast his feelings toward Apple's new privacy feature.Facebook complained that small businesses would be hurt the most if iPhone users had the ability to block ad trackers from knowing their locations.
Wehner, talking to analysts during the conference call after the earnings report was released, forecast how much ATT will hurt the company."It’s on the order of $10 billion, so it’s a pretty significant headwind for our business," he said. After rising $4 to $323 a share during the regular trading session, Meta shares were dumped in after-hours trading following the release of the report .in October, revenue was reported as $33.
Hardware and VR products including the Portal smart screen line and the Oculus headset brought in $877 million from October through December but spilled $3.30 billion in red ink. For all of 2021, the hardware grossed $2.27 billion but lost $10.19 billion for the year.
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