Snap’s Gloomy Forecast Prompts Debate Over Trouble for Broader Advertising Market

Snap The surprise revelation that its second-quarter revenue and profit will be lower than expected sent its shares plunging and ignited debate over whether the social media company’s woes should be reported. signal a broader slowdown in the online advertising market or not.

During a presentation at an investment conference, Snap CEO Evan Spiegel “The macroeconomic environment has certainly deteriorated faster and faster than we expected.” In a filing, Snap said it will miss its target for revenue growth of 20% to 25% year-over-year and will fall short of its adjusted operating income target. Snap stock fell 43% on Tuesday to close at $12.79.

https://www.wsj.com/articles/snaps-gloomy-forecast-prompts-debate-over-trouble-for-broader-advertising-market-11653417213?mod=pls_whats_news_us_business_f Snap’s Gloomy Forecast Prompts Debate Over Trouble for Broader Advertising Market

Edmund DeMarche

USTimesPost.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@ustimespost.com. The content will be deleted within 24 hours.

Related Articles

Back to top button