Twitter blames Musk, weak digital ad market for drop in revenue

The company’s results come after Snapchat parent Snap Inc posted weak results and declined to make a forecast, citing “incredibly challenging” conditions as advertisers cut back on spending.

Twitter and its peers, including Snap and Alphabet, saw an uptick in revenue last year as brands spent heavily on advertising online, eyeing a recovery from the pandemic. But inflation pressures and fears of a recession this year have forced brands to rethink their marketing budgets. At the same time, Gen Z-favorite TikTok and tech giant Apple Inc, which gives users the choice to opt of data tracking, are grabbing market share in the digital ad space.

Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter.

globebusiness Twitter is covering its ass. They cooked the books to get included into the S&P500. Without creative bookkeeping, they would never have made it.

Blame Twitter censorship

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Entrepreneurs, enter the lithium refining business. It's a license to print money.' - Elon MuskA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Source: KitcoNewsNOW - 🏆 13. / 78 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 »