Facebook ’s parent company served up a stark sign of how Apple Inc.’s new ad-privacy policy is roiling the digital-advertising world.
Meta Platforms Inc. closed down more than 26% in Thursday trading—a $230 billion-plus loss in market capitalization—after Chief Financial Officer David Wehner on Wednesday said the company expects the Apple policy to cost it more than $10 billion in lost sales for 2022, equivalent to about 8% of its total revenue last year.