Facebook said Wednesday that changes to Apple’s new privacy terms will continue to cause headwinds for its ads business in the third quarter.
Why it matters: Facebook doesn’t typically provide these types of updates outside of earnings calls. The update signals to investors that the company is seeing numbers in the current quarter that reinforce previous warnings about impact from Apple’s changes.
The big picture: The admission is likely to intensify an ongoing spat between Facebook and Apple.
Details: Facebook also revealed that it had been inadvertently under-reporting web conversions, such as a sale or an app install, which has led advertisers to believe their ads weren't as effective.
Flashback: Facebook said in its second earnings call that it expected Apple’s changes to have a greater impact on its third quarter revenues than its second.
Between the lines: A Facebook source says advertisers have wanted more clarity from the tech giant about how to handle the changes to ad targeting caused by Apple’s new privacy terms.