Facebook plans increased investment in VR as ad sales growth slows in Q3

Tuesday 26 October 2021 | 08:46 CET | News
Facebook reported third-quarter revenues up 35 percent year-on-year to USD 29.0 billion, a slowdown from the previous period in line with its warning over an increasing effect on ad revenues from Apple's changes to iOS. The company said Q4 will be impacted as well, with estimated revenues of USD 31.5-34 billion in the final quarter of the year. It also forecast a sharp rise in costs next year to support investment in its VR business and infrastructure. 

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Categories: Internet / Mobile & Wireless
Companies: Facebook
Countries: World
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