Looming Apple privacy changes weigh on Snap despite revenue growth

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

Snap stock declined 7% to $54.02 in trading after the bell.
Snap said Apple’s planned privacy changes, which will ask iPhone users to consent to personalized ads, could present a “risk” to advertiser demand, but added it was unclear how the changes could affect Snap’s business in the long-run.

Source: Reuters

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