Gelonghui October 22nd 丨snap(SNAP.US) plunged 21% to $59.25 before the market, and the market capitalization will drop to 95 billion US dollars. According to the company's financial report, third-quarter revenue increased 57% year-on-year to 1.07 billion US dollars, lower than market expectations, with a net loss of 72 million US dollars for the third quarter. Meanwhile, revenue for the fourth quarter is expected to be 1.17 billion to 1.21 billion US dollars, higher than 911 million US dollars in the same period last year, but lower than analysts' expectations of 1.36 billion US dollars.

The impact of the iPhone's privacy settings on the Snap advertising business has exceeded expectations, according to the CEO of SnapapplesThe privacy changes and global supply chain disruptions will continue until the fourth quarter.

Note: In April of this year, Apple (APP.US) implemented the App Tracking Transparency (ATT) policy, requiring developers to apply for permission when using certain information in other companies' apps and websites for advertising purposes, and users can decide for themselves whether to enable ad tracking services in system settings.