Social media stocks slump

media firms fell sharply on Friday as Twitter joined the Snapchat owner in signalling a cutback in digital ad spend as economic growth sputters.

Twitter also blamed its ongoing battle to close its $44-billion acquisition by Elon Musk for the surprise fall in quarterly revenue. The micro-blogging site’s shares were marginally higher. Advertisers have pared back spending amid rising interest rates and surging inflation as some of them struggle with labour shortages and supply-chain disruptions, Snap said on Thursday.

Investors are bracing for the slowest global revenue growth in the history of the social media sector as Apple’s privacy changes further cloud outlook.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Social media stocks hammered by Snap selloffUS social-media giants shed nearly $47 billion in market value in extended trading Thursday, as disappointing revenue from Snap Inc. raised concerns about the outlook for online advertising.
Herkunft: mybroadband - 🏆 11. / 67 Weiterlesen »

‘Awful’ snap sales wipe $76bn from social media stocksUS social-media companies are poised to see more than $76 billion wiped off their stock-market values Friday, after disappointing revenue from Snap Inc. and a lackluster report from Twitter Inc. raised concerns about the outlook for online advertising.
Herkunft: SundayTimesZA - 🏆 47. / 51 Weiterlesen »

Social media stocks fall after dismal Snap earnings as investors fret over ad sales slowdown | BusinessinsiderThe social media sector is reeling from Snap's disappointing quarterly earnings report, as investors fret over weakness in online ad sales.
Herkunft: BISouthAfrica - 🏆 34. / 51 Weiterlesen »