27% in the after-hours session. Facebook parent Meta Platforms Inc. and Pinterest Inc dropped more than 4% each, while Google owner Alphabet Inc. and Twitter Inc. also slipped.by Snap in two months, as its results become a barometer for investors trying to decipher how economic uncertainty has impacted ad spending.
“The earnings optimism may come to a pause for now,” said Tina Teng, a markets analyst at CMC Markets Plc. in Auckland. Snap — which saw $6 billion in market cap erased after hours on Thursday — didn’t issue financial guidance for the third quarter, except to say that revenue so far in the period is about flat compared with last year.by Apple Inc. and others.
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