Analysts Shrug Off Facebook's Bad Press but Q4 Ad Concerns Linger

The leaked internal documents were barely mentioned on the company's earnings call

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Facebook reported revenue of $29.01 billion for the third quarter of 2021, up 35% year over year, but short of analysts’ projections of $29.57 billion. If it weren’t for Apple’s iOS 14 changes, the platform said it would have seen positive quarter-over-quarter revenue growth.

Profit, as well as users, grew, but while investors mostly shrugged off any reputational damage to the platform based on leaked documents alleging that it prizes profits over safety, Apple’s ongoing user privacy crusade and labor shortages paint a more concerning picture for the next quarter’s ad revenue.

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