In a letter to investors
, Snap said “macroeconomic challenges have disrupted many of the industry segments that have been most critical to the growing demand for our advertising solutions.” On top of that, it’s still dealing with fallout from changes to privacy options in Apple’s operating software for iPhones. And so now Snap isn’t bothering to provide a forecast for the current quarter, though it said in its letter revenue is tracking “approximately flat” so far in Q3.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Awful' Snap sales wipe US$76B from social media stocks - BNN BloombergU.S. social-media giants were poised to see more than US$76 billion wiped off their stock-market values Friday after disappointing revenue from Snap raised concerns about the outlook for online advertising.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
TSX recap: Markets fluctuate as energy stocks fall - BNN Bloomberg
Source: BNNBloomberg - 🏆 83. / 50 Read more »
‘Awful’ Snap sales just wiped $76 billion off social media stocksConcerns about the outlook for online advertising
Source: nationalpost - 🏆 10. / 80 Read more »
‘Awful’ Snap sales just wiped $76 billion off social media stocksConcerns about the outlook for online advertising
Source: fpinvesting - 🏆 43. / 63 Read more »
Snap's warning looms over battered online ad stocks - BNN BloombergInvestors are learning that online advertising stocks may be just as vulnerable as old-school media companies amid a looming potential economic downturn.
Source: BNNBloomberg - 🏆 83. / 50 Read more »