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Snap's earnings may hold positive news for Meta, Google

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A rise in a key advertising metric for Snap Inc that reported an otherwise insipid quarter could bode well for Facebook owner Meta Platforms and Alphabet , analysts said on Wednesday.

Meta has said the bulk of its revenue also comes from direct response advertising. Facebook and Instagram reach billions of users, turning them into a key part of the marketing strategies of many brands.

Snap's direct response performance was a more positive takeaway for Meta than Alphabet, said CFRA Research analyst Angelo Zino, pointing to Meta's progress with measurement, optimization and artificial intelligence enhancements on its platform.Snap's shares were trading at $10 on Wednesday. The company's weak outlook pulled down shares of Meta and PinterestAnalysts expect Meta to post a 6.

Alphabet will report results on Thursday, and analysts expect revenue to be unchanged from a year earlier.devices that have made it harder for marketers to collect data, are not unique to the company. But it has the "added challenge of being a small player," said Jasmine Enberg, principal analyst at Insider Intelligence.

 

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