- The Covid surge in online shopping (and digital ad spending) pushed Facebook’s Q1 revenue to $26.17B (+ 48% year-over-year) and profits totaled $9.5B.
- However, Zuckerberg warned that Apple’s recent privacy policy changes requiring iPhone app developers to ask users permission to collect data could “significantly” hurt growth.
- Facebook relies on this data to generate targeted ads.
- To soften the blow, Facebook is expanding its e-commerce features within Facebook and Instagram to build an internal marketplace.
- Facebook’s long-term digital ad revenue is now at risk.
