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Day: October 25, 2021

Facebook, Twitter and digital ad stocks drop sharply after Snap earnings

Shares of Facebook, Twitter, and other social media and digital advertising businesses are down dramatically in after-hours trading after Snap revealed that revenue estimates were missed in the third quarter due to Apple’s iPhone privacy rules disrupting its advertising business. Snap also cautioned that supply chain issues were restricting short-term advertising investment because companies did not want to stimulate demand for products that they might not have in store.

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