Facebook Admits Underreporting Ad Performance Citing Apple's Privacy Update

Facebook Inc FB admitted to underreporting web conversions on Apple Inc's AAPL iOS by about 15% in Q3 due to the iPhone maker's privacy changes.
Apple gave iPhone and iPad users the option to opt-in to being tracked when first launching an app.
At the July earnings call, Facebook CFO David Wehner warned, saying he expected to see a more significant impact of the changes in the Q3, CNBC reports.
Facebook suggested several actions to the advertisers to help analyze their ad performance, like waiting longer to analyze data to allow for delays and considering using additional measurement tools.
Facebook acknowledged efforts to improve ad performance measurement.
Price Action: FB shares traded lower by 4.32% at $342.14 on the last check Wednesday.