Meta said it faced hits from Apple Inc’s privacy changes to its operating system, which have made it harder for brands to target and measure their ads on Facebook and Instagram, and from macroeconomic issues like supply-chain disruptions.
Meta, which has the second-largest digital ad platform in the world after Google, had previously warned its advertising business faced “significant uncertainty” in the fourth quarter.Analysts were expecting $30.15 billion, according to IBES data from Refinitiv. Net loss from Meta’s Reality Labs, the company’s augmented and virtual reality business, was $10.2 billion for the full year 2021, compared with a $6.6 billion loss the previous year.CEO Mark Zuckerberg had previously warned that the company’s investment in this area would reduce 2021 operating profit by$10 billion and would not be profitable “any time in the near future.”
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