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Facebook forecasts Q4 revenue below estimates as Apple’s privacy rules bite -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This illustration shows the 3D-printed Facebook logo placed on a keyboard. It was taken March 25, 2019, by Reuters. REUTERS/Dado Ruvic/Illustration

(Reuters) – Facebook Inc Apple Inc. (NASDAQ (:) issued Monday warnings that its new privacy regulations would impact the digital business of the company in the current quarter. The announcement came after Apple Inc. (NASDAQ (:) had reported that quarterly revenue was below expectations.

According to the company, fourth quarter revenue is expected to range from $31.5 billion to $35 billion. According to IBES data, Refinitiv, analysts had predicted revenue of $34.84 billion, a jump of 24.1%.

Apple privacy regulations that prevented digital advertisers using the ad service in its third quarter also impacted it’s revenue for this period.

Revenue from advertising sales increased to $29.01 Billion, an increase of 21.47 Billion over the previous year. Analysts had predicted $29.57B.

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