Facebook’s
parent company served up a stark sign of how
Apple Inc.’s
new ad-privacy policy is roiling the digital-advertising world.
Meta Platforms Inc.
closed down more than 26% in Thursday trading—a $230 billion-plus loss in market capitalization—after Chief Financial Officer
David Wehner
on Wednesday said the company expects the Apple policy to cost it more than $10 billion in lost sales for 2022, equivalent to about 8% of its total revenue last year.
“It’s a pretty significant headwind,” Mr. Wehner said on a call with analysts.
The share decline represented the biggest one-day retreat in value in U.S. history.
…
