Snap's stock drops as iPhone privacy controls pinch ad sales

Snap's stock drops as iPhone privacy controls pinch ad sales

3 years ago
Anonymous $BH0TGXkyPe

https://apnews.com/9f5100ce9fd86c14425c112127ae1391

SANTA MONICA, Calif. (AP) — Snapchat's corporate parent disclosed Thursday that its ad sales are being hurt by a privacy crackdown that rolled out on Apple's iPhones earlier this year, raising investor fears that the app's financial growth is going into a tailspin.

The revelation in Snap Inc.'s third-quarter earnings report sparked a sell-off in after-hours trading that could foreshadow one of the biggest one-day drops in the company's stock since it went public in 2017.

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