News Formal

Snap's report incinerates $80 billion in ad industry market cap

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 66%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Facebook-owner Meta Platforms, Google-owner Alphabet and other companies that sell online ads lost about $80 billion in combined stock market value on Thursday after Snap posted poor quarterly results and warned of an uncertain outlook.Slammed by a weakening economy, increased competition from TikTok and

Facebook-owner Meta Platforms, Google-owner Alphabet and other companies that sell online ads lost about $80 billion in combined stock market value on Thursday after Snap posted poor quarterly results and warned of an uncertain outlook.

Snap's poor report also hit other growth stocks, with Spotify Technology, Shopify and Roblox down around 3 per cent each after hours. Twitter is set to report its quarterly results early on Friday, but the micro-blogging platform has canceled its traditional call with analysts, pointing to Musk's"pending acquisition".

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 6. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Importers paid $45 billion in US tariffs on China tech imports: Industry report
La source: STForeignDesk - 🏆 4. / 71 Lire la suite »