Snapchat’s parent company reported stalled revenue growth and a large net loss for the final three months of 2022, as it confronts tighter advertiser budgets amid broader economic uncertainty. Snap’s quarterly revenue was just shy of $1.3 billion, essentially flat from the year prior. For the full year, Snap’s revenue grew 12%, a slower rate that the company attributed to “rapid deceleration in digital advertising growth.” The situation appears to be even worse in the current quarter.
Snap’s earnings could be a concerning bellwether for the other tech giants that rely on the health of the digital ad market, including Facebook-parent Meta and Google-parent Alphabet, both of which are set to report results this week. Shares of Meta and Alphabet dipped slightly in after-hours trading Tuesday following Snap’s results. Snap in August became one of the first big tech firms to announce major layoffs when it said it would cut 20% of its staff.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Snap Revenue Flat in Q4 Amid Ad Woes, Snapchat Climbs to 375 Million Daily UsersSnapchat’s parent continues to reel from a pullback in ad spending, with Snap posting $1.3 billion revenue for the fourth quarter of 2022 — up just 0.1% year-over-year, its lowest quart… Probably all bots left at this point.
Source: Variety - 🏆 108. / 63 Read more »
snapchat Stock Price Today | NYSE SNAP Live Ticker - Investing.comView today's Snap Inc stock price and latest SNAP news and analysis. Create real-time notifications to follow any changes in the live stock price. Who buys Snap? Its junk stock who uses snap nowadays? Same clockwork
Source: Investingcom - 🏆 450. / 53 Read more »
Nissan, Renault reach agreement for Renault to lower stake to 15% -NikkeiNissan Motor Co and Renault SA have reached an agreement to lower the French automaker's stake in the Japanese carmarker to 15% from 43%, the Nikkei business daily reported on Monday. Starting to the end..
Source: Reuters - 🏆 2. / 97 Read more »
15-year-old smuggler arrested in BensonOn Saturday, Jan. 21, agents with the U.S. Border Patrol (USBP) arrested a 15-year-old U.S. citizen for smuggling 4 migrants. Thank a democrat!
Source: kgun9 - 🏆 584. / 51 Read more »
Chicago shootings: 15 shot, 2 fatally, in weekend gun violence, police sayChicago shootings this weekend left two people dead and 13 others, including a 13-year-old boy, wounded, police said.
Source: ABC7Chicago - 🏆 284. / 63 Read more »
Senators renew call for investigation of smaller AR-15 rifle they claim is targeted toward childrenSeven U.S. senators are renewing calls for the FTC to open an investigation into the marketing of assault-style rifles after the unveiling of the JR-15, a long rifle the manufacturer advertises as a smaller AR-15 geared towards younger users. Ban all weapons that use gas from a fired round to load the next round. No rights are violated, and everyone would be far safer. Had my first gun at 12 years old and was taught how to be responsible with them. All youth should be taught gun safety, back in the day there were school safety programs way before school shootings were a thing what changed Neither guns or pharmaceuticals need to be marketed. Only one of these is marketed to the masses .
Source: ABC - 🏆 471. / 51 Read more »