Apple’s App Tracking Transparency bites Snap’s ads business, shares drop 25% as revenue fall short

Snap on Thursday fell short of Wall Street estimates for quarterly revenue as the owner of photo messaging app Snapchat said Apple’s App Tracking Transparency framework to protect user privacy hurt Snap’s ability to target and measure its digital advertising.Sheila Dang for Reuters:Shares of Snap dropped 25% in trading after the bell.
The Santa Monica, California-based company said that issue was compounded by global supply chain disruptions and labor shortages, which caused companie