Big ad buyers and marketers are upset with Facebook Inc. after learning the tech giant vastly overestimated average viewing time for video ads on its platform for two years, according to people familiar with the situation.
Several weeks ago, Facebook disclosed in a post on its “Advertiser Help Center” that its metric for the average time users spent watching videos was artificially inflated because it was only factoring in video views of more than three seconds. The company said it was introducing a new metric to fix the problem. Read More
I sold out of my long position in After-hours.
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Hi RC, hope you been doing well. Isn’t this sorta old news? FB apparently had notified the advertisers a while ago. But the press article hit the wires today in AH. You think it would impact stock next few days?
Possibly. Was in from 128 on a recent long, so decided not to press my luck and cash out near entry.