Gelonghui October 22nd (Snap Inc)(SNAP.US) tumbled 21% to $59.25 in pre-market trading, and its market capitalization will fall to $95 billion. The company reported a 57 per cent year-on-year increase in third-quarter revenue to $1.07 billion, below market expectations and a net loss of $72 million in the third quarter, while fourth-quarter revenue is expected to be between $1.17 billion and $1.21 billion, up from $911 million a year earlier. but below analysts' expectations of $1.36 billion.
CEO Snap Inc said that the privacy setting of iPhone had a greater impact on Snap Inc's advertising business than expected, and Apple Inc was expected.Privacy changes and disruptions in the global supply chain will continue into the fourth quarter.
Note: in April this year, Apple Inc (APPL.US) implemented the Application tracking Transparency (ATT) policy, which requires developers to apply for permission when using certain information from other companies' apps and websites for advertising purposes, and users can decide whether or not to turn on the ad tracking service in the system settings.