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Big Tech earnings show digital ads market not out of the woods

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The health of the advertising industry closely mirrors the economy, and many advertisers have pared back their marketing budgets in response to record-high inflation rates

on Thursday reported a slight fall in quarterly ad revenue, missing Wall Street expectations and surprising investors as the world’s largest digital ad platform has traditionally been resilient compared to smaller rivals. Shares of Alphabet were down 5 per cent in trading after the closing bell.

“ are managing their spend very cautiously so they can react quickly to any changes in the environment,” Snap Chief Executive Evan Spiegel said during an earnings call., the second-largest digital ad platform, lifted Wall Street on Wednesday with its cost cuts and big share buyback, though it posted its third consecutive quarter of year-over-year revenue decline.

Meta Chief Financial Officer Susan Li said the broader economy continues to be “pretty volatile” and it was too early to tell what the year would look like.

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GlobeTechnology PP performance may not be related to ad market. People might be getting tired of the advocacy contained within the platform administration and algorithms. The product might be lacking.

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