Meta to report third-quarter earnings after the bell
Summary
Along with its ad-based competitors, Meta is still trying to recover from Apples 2021 iOS privacy update, which made it more difficult for companies to track users across the internet, hurting their online advertising businesses. The company has pointed to its hefty investments in artificial intelligence as a key technology thats helped Meta land retailers looking to serve customers targeted promotions. Newly enacted legislation called the Digital Services Act from the European Commission, the executive body of the EU, could result in fines totaling as much as 6% of annual sales. Thats a point the European Commission recently reiterated due to the deluge of misinformation and violent content thats been spreading tied to the escalation of the Middle East conflict. Snap said in its third-quarter earnings report that it has "observed pauses in spending from a large number of primarily brand-oriented advertising campaigns immediately following the onset of the war in the Middle East."