Snap to focus on growing ads business, augmented reality amid poor stock performance

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 66%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Snap will concentrate on expanding and diversifying its underperforming advertising business with a focus on augmented reality, CEO Evan Spiegel informed employees in a note on Tuesday.

FILE PHOTO: A keyboard is placed in front of a displayed Snapchat logo in this illustration taken February 21, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

"You may be wondering why, with all of the progress we've made in our business over the last year, our share price performance has lagged the overall market. The answer is simple: our advertising business is growing slower than our competitors," Spiegel said in the note.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 6. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines