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 Inc said on Thursday.
Snap Inc’s shares were down 36.4% and were the most heavily traded across U.S. exchanges, as the company said it was looking for new sources of revenue to grow.
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:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘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 »
'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 »
The Daily Chase: Snap drags on social media stocks; TSX on winning streak - BNN BloombergIf Snap is a canary in the coal mine for its tech peers: look out below. The parent company of Snapchat is seeing its stock get thrashed in pre-market trading after its second quarter was rocked by a slowdown in ad spending
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Why a social media app is dragging the market lowerSocial media company Snap, which owns Snapchat, posted a quarterly net loss of $422 million, compared to a $152 million loss in the same quarter last year.
Source: CTVNews - 🏆 1. / 99 Read more »