 |
Apple's policy causes a significant drop in Facebook's revenue |
Facebook, the largest social media platform, has beaten Wall Street's quarterly earnings and profit expectations, with online shopping seeing a 48% increase in revenue during the global epidemic.
Global pandemic and Facebook's revenue growth
According to a Reuters report, the global epidemic saw a 48% increase in Facebook's revenue through online shopping, with the world's largest social network saying it would increase advertising in the future. Will focus on e-commerce features.
Shares of Facebook rose 6.5 percent to 6 326 in expanded trading, according to the report.
"We have a long way to go to get a platform full of commercial features, but I'm determined to get there," Facebook founder Mark Zuckerberg told a news conference.
Mark Zuckerberg said that Facebook users have increased by 10% to 2.85 billion.
Apple's privacy policy causes Facebook to lose revenue
Facebook recently warned that Apple's new policy later this year could significantly reduce Facebook's revenue, making the new privacy policy more difficult for targeted ads.
Facebook said in a statement that it expects changes to the iPhone's privacy policy to affect Facebook's second-quarter revenue, but that third- and fourth-quarter revenue could increase gradually.
Facebook has expressed anger over Apple's needs, saying that iPhone app developers are asking users to collect a certain type of data in order to receive ads.
According to a statement from Facebook, Apple's move could hurt Facebook, affecting small Facebook companies that rely on personalized advertising.
