Snapchat parent Snap Inc.’s acknowledgement that its ad business was impacted by Apple Inc.’s iOS 14 privacy changes dragged stocks of other social media rivals such as Facebook Inc., Twitter Inc., Pinterest Inc., and Alphabet Inc. What Happened Snap’s shares fell more than 21 percent in Thursday’s after-hours session after the company’s third-quarter revenue missed analysts’ estimates as its ad business was disrupted by changes to iOS ad tracking that were rolled out by Apple earlier this year. Snap reported third-quarter revenues of $1.07 billion, up 57 percent year-over-year, but it missed analysts’ consensus estimate of $1.1 billion. “While we anticipated some degree of business disruption, the new Apple provided measurement solution did not scale as we had expected, making it more difficult for our advertising partners to measure and manage their ad campaigns for iOS,” Snap CEO Evan Spiegel said during a conference call with analysts. The CEO also warned that global supply chain …
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