Twitter plummets 11% on concerns about Apple privacy policy changes

Twitter on Tuesday missed Wall Street expectations for user growth and investor concern about the potential impact of Apple’s privacy policy changes.

Twitter plummets 11% on concerns about Apple privacy policy changes

Twitter said monetizable daily active users, its term for users who are served ads, was 211 million during the third quarter, missing analyst estimates of 212.6 million, according to Refinitiv.

Bloomberg News:

Twitter Inc. tumbled 11% on Wednesday, the biggest drop in six months, after the social-media company’s third-quarter revenue and fourth-quarter sales outlook trailed Wall Street projections.

The stock fell for a sixth day, marking its longest streak of declines since August. The shares have come under pressure in recent sessions following results from social-media peers Snap Inc. and Facebook Inc., both of which highlighted headwinds from Apple Inc.’s new limits on consumer data collection.

The shares reflect “underlying concerns that growth and/or guidance would not escape the headwinds caused by Apple IDFA deprecation and supply chain challenges,” Baird analyst Colin Sebastian wrote in a research note, referring to changes around Apple’s data-collection policies.

Investors may also be disappointed with U.S. user results that were flat quarter over quarter, Jefferies analyst Brent Thill said…

MacDailyNews Take: Again, users should have full control of whether they are tracked across apps or, for that matter, tracked at all.

Privacy means people know what they’re signing up for, in plain English, and repeatedly. I’m an optimist; I believe people are smart, and some people want to share more data than other people do. Ask them. Ask them every time. Make them tell you to stop asking them if they get tired of your asking them. Let them know precisely what you’re going to do with your data. — Steve Jobs

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[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

4 Comments

  1. Yesterday Apple’s action in protecting user privacy were described as having a “modest impact” on the profits of Twitter and YouTube.

    If a modest impact causes an 11% slide in their stock, they had better start worrying if Apple decides to made tracking even harder.

  2. Good. That social media crap needs to go away. I know I’m in the minority because the rest of the world seems to love using those social media apps. Apparently it must be very addictive to users. I just don’t see why Apple is getting blamed for ruining businesses by simply allowing users a choice of being tracked or not. Why don’t social media apps offer users the option to pay for the services? Charge them by the month or year. I’m sure many users would be willing to pay for the services if they’re that useful or entertaining.

    I’m not dead set against social media apps as I don’t use them so I don’t think they affect me one way or another. It just seems that there are so many of those social media services and people should find other ways to interact with one another.

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