When using data labels on a bar chat, I am able to apply conditional formatting to the bar colour. For some reason, when I apply the exact same rules to conditional formatting on a data label, it does not seem to be working.
My colleague has tried the same as is experiencing the same problem.
It is caused by design(ICM 304359329). Power BI will format colors of data labels according to an aggregated value, such as the sum of all the values. So in this case, all the data labels will be red for the total of all values is positive.
Here is an idea in Power BI Ideas that gives suggestions to this issue and you could vote for it as well. Thanks in advance!