28 C
Lahore
Thursday, October 28, 2021

Apple privacy changes weigh on Snap | The Express Tribune

Must read

FIA launches crackdown in opposition to proscribed outfit’s social media accounts

FIA's Cyber Crime Wing brand. Twitter/@FIA_AgencyFIA launches crackdown in opposition to proscribed outfit's social media accounts in Lahore, Faisalabad, Nankana Sahab, Islamabad, and different...

PTV takes Nauman Niaz off-air after spat with Shoaib Akhtar: sources

Former bowler Shoaib Akhtar and PTV anchorperson Dr Nauman Niaz. — Screengrab through Geo InformationFollowing an on-air spat between former quick bowler Shoaib Akhtar...

KSE-100 extends features, ends simply shy of 46,000-point mark

— ReutersKARACHI: The Pakistan Inventory Trade (PSX) prolonged features on Thursday on the again of a bunch of optimistic triggers and the benchmark KSE-100...

Lahore courtroom points bailable arrest warrant for Shahbaz Gill

Particular Assistant to Prime Minister of Pakistan on Political Communication Dr Shahbaz Gill. — PIDAn area courtroom in Lahore on Thursday issued a bailable...

Snap, owner of popular photo-messaging app Snapchat, on Thursday, warned that upcoming privacy changes by Apple could hurt Snap’s ad business although user growth and revenue beat analysts’ fourth-quarter estimates.

Snap stock fell 7% to $54.02 after the bell.

Apple’s planned changes, to ask iPhone users for consent to track their data for personalized ads, could present a “risk” to advertiser demand, Snap said but added it was unclear how that could affect business in the long-run.

“The disruption to ad targeting caused by the iOS 14 privacy changes will clearly be a worry for Snap, which has been steadily growing its armory of ad formats and advertisers,” said Tom Johnson, chief transformation officer at ad agency Mindshare Worldwide.

Facebook faces lawsuits that could force sale of Instagram, WhatsApp

Snap’s larger tech rival Facebook Inc has been waging a public fight against Apple’s changes, accusing the iPhone maker of anticompetitive behavior and hurting the social media company’s ad-targeting business.

During an earnings call with analysts, Snap Chief Business Officer Jeremi Gorman struck a different tone, saying that Snap shares Apple’s philosophy on protecting users’ privacy.

“We admire Apple and believe they are trying to do the right thing for customers,” Gorman said, adding Snap is well prepared to guide advertisers through the iOS changes.

Snap’s daily active users (DAUs), a metric watched by investors and advertisers, rose 22% year-over-year to 265 million in the fourth quarter ended December 31. Analysts had expected 258 million, according to IBES data from Refinitiv.

The app made the biggest gains outside North America and Europe, with a 55% growth in daily active users.

Instagram influencers are a vaccine priority in wary Indonesia

Revenue, which Snap generates mainly from ad sales, grew 62% to $911 million, easily beating Wall Street’s consensus estimate of $857.4 million.

Advertisers have been drawn to Snap’s young audience, and it has developed features that appeal to marketers, including Snap Map, which lets users find local businesses near them.

Snap’s net loss narrowed to $113 million, or 8 cents per share, from $240.7 million, or 17 cents per share, a year earlier.

The company forecast first-quarter daily active users would grow 20% year over year to 275 million, and revenue of $720 million to $740 million.

 

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

FIA launches crackdown in opposition to proscribed outfit’s social media accounts

FIA's Cyber Crime Wing brand. Twitter/@FIA_AgencyFIA launches crackdown in opposition to proscribed outfit's social media accounts in Lahore, Faisalabad, Nankana Sahab, Islamabad, and different...

PTV takes Nauman Niaz off-air after spat with Shoaib Akhtar: sources

Former bowler Shoaib Akhtar and PTV anchorperson Dr Nauman Niaz. — Screengrab through Geo InformationFollowing an on-air spat between former quick bowler Shoaib Akhtar...

KSE-100 extends features, ends simply shy of 46,000-point mark

— ReutersKARACHI: The Pakistan Inventory Trade (PSX) prolonged features on Thursday on the again of a bunch of optimistic triggers and the benchmark KSE-100...

Lahore courtroom points bailable arrest warrant for Shahbaz Gill

Particular Assistant to Prime Minister of Pakistan on Political Communication Dr Shahbaz Gill. — PIDAn area courtroom in Lahore on Thursday issued a bailable...

T20 World Cup: Rashid Khan urges Pakistan, Afghanistan followers to behave tomorrow | Sports activities – Geo.television

A safety officer holds down an Afghan fan after the Pakistan-Afghanistan conflict. Picture: AFP"It's always a good game against Pakistan, but this should remain...