Snap sets off alarm bells in ad-reliant social media sector Mtgfx - Mtpıx HEAD TOPICS

Snap sets off alarm bells in ad-reliant social media sector

10/22/2022 12:20:00 PM

Snap reported its slowest ever quarterly growth and forecasts zero revenue growth pointing to more pain ahead for a social media sector heavily dependant on digital advertising $SNAP

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Reuters

Snap reported its slowest ever quarterly growth and forecasts zero revenue growth pointing to more pain ahead for a social media sector heavily dependant on digital advertising $SNAP Snap Inc shares sank more than 30% on Friday and hit their lowest since the pandemic, after the company's forecast of zero revenue growth pointed to more pain ahead for a social media sector heavily dependant on digital advertising. Register now for FREE unlimited access to Reuters.comRegisterMacroeconomic concerns, changing social media user behavior affects advertiser spendingThe digital ad space has suffered as brands have cut marketing and ad budgets in response to declining consumer demand. Snap's warning exacerbated those fears. "This truly is a cautionary tale ... advertisers might show that we're already in a recession because of their unwillingness to spend on these smaller platforms," said Bokeh Capital Partners' Kim Forrest.So far this year, digital ad companies have together lost roughly $1 trillion in value, hit by intense competition from TikTok and challenges from Apple Inc's privacy changes to its iOS platform that allows users to opt out of data tracking. Read more:
Reuters » Snap plunges more than 30% to lowest level since early 2019 Snap Stock Slumps Premarket as Sales Growth Slows, Advertisers Cut Spending Snap crashes, drags peers, as dire forecast sparks ad growth fears Current Cold Snap Is Gradually Fading Away - Alabama News

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The series returns to Philadelphia tied up 1-1. Read more >> Snap plunges more than 30% to lowest level since early 2019Shares of Snap continued to plunge Friday afternoon after the company reported weaker-than-expected revenue for the third quarter. Trading at 3X next year which is very good. Re Purchasing stock back. Good Q3 report. 20% more users. Did not guided and this is why is tanking, but must companies are not. Buy this with both hands.HalftimeReport FastMoney davidfaber Snap Stock Slumps Premarket as Sales Growth Slows, Advertisers Cut SpendingShares plummeted 25% in premarket trading after Snapchat’s parent company said it was operating on an assumption there would be no revenue growth in the current quarter. Good. I’m short. Snap crashes, drags peers, as dire forecast sparks ad growth fearsShares of Snap Inc sank about 25% before the bell on Friday, after the owner of photo messaging app Snapchat forecast zero revenue growth for the current quarter, triggering a slide in other social media stocks dependent on advertising revenue. Current Cold Snap Is Gradually Fading Away - Alabama NewsOur winter-like cold is gradually fading but we do have one more night of it to get through. Clear skies and a calm wind will allow temps to fall into the mid to upper 30s overnight. That’s not as cold as we have been but still well below average for this time of the year. Patchy frost is likely to... U.S. stock futures wilt after Snap warning, continued bond yield riseU.S. stock futures fell on Friday, with a warning from social-media service Snap setting a negative tone as bond yields continued to rise. Bernstein downgrades Snap, says it's unclear what's next for the social media stock after latest earningsThe firm lowered its rating after Snap reported poor third-quarter revenue results and softer user engagement numbers. Analysts rushed to cut their price target on Snap, with Morgan Stanley taking it to a Wall Street low of $7.third-quarter earnings report that was released Thursday night.Company that owns Snapchat is among several social-media companies that have struggled to respond to the sagging ad market Snap shifted from overdrive to reverse this year as it prepares for its lowest period of sales growth since going public.all slid between 1. In early trading the stock hit its lowest since early 2019. Register now for FREE unlimited access to Reuters. The company posted an unexpected profit, but revenue missed estimates slightly, coming in at $1.com Register Macroeconomic concerns, changing social media user behavior affects advertiser spending The digital ad space has suffered as brands have cut marketing and ad budgets in response to declining consumer demand. 21, 2022 6:10 am ET Snap Inc. Snap's warning exacerbated those fears.14 billion expected, according to a Refinitiv survey of analysts. "This truly is a cautionary tale .com Register The brokerage said competition is likely to continue to increase in 2023. . 's data privacy update in 2021 has limited the ability of social media companies to track users online, which has continued to hurt the company.. advertisers might show that we're already in a recession because of their unwillingness to spend on these smaller platforms," said Bokeh Capital Partners' Kim Forrest. In a note to investors, Shmulik signaled there's still hope for the company: "SNAP's untapped potential remains, yet we're unlikely to see near-term inflection. So far this year, digital ad companies have together lost roughly $1 trillion in value, hit by intense competition from TikTok and challenges from Apple Inc's privacy changes to its iOS platform that allows users to opt out of data tracking. A woman stands in front of the logo of Snap Inc on the floor of the New York Stock Exchange (NYSE) in New York City, NY, U." Barclays was more optimistic in its analysis of Snap's performance, reiterating an overweight rating on the stock after saying that Snap "has a long history of overcoming challenging transitions. Snap's stock, now trading at $8. S. March 2, 2017. Shares of Snap are down about 77% year to date. REUTERS/Lucas Jackson Snap reported its slowest revenue growth as a public company for the latest quarter on Thursday, and forecast for the typically busy holiday quarter. Reuters Graphics SNAP'S WOES Advertisers have relied on Snap's platform to tap into its popularity among teens and young adults. watch now. But Apple's privacy changes have made it more difficult to track and measure ads on Snapchat, causing major brands to shift their ad spending to bigger platforms that reach more people. "A challenged macro continues to see ad buyers prioritize their larger, core platforms, namely Google and Meta, as they monitor consumer health," Bernstein analyst Mark Shmulik said, adding that ad buyers reducing their spend particularly on smaller experimental platforms. Snap's stock has lost about 77% of its value so far this year, while Alphabet, Meta and Pinterest have lost between 30% and 60%. Twitter, however, has gained 21% on the prospect of billionaire Musk buying the company. "We now believe that Snap will have difficulty remaining under control of its own destiny over the next six to nine months," MKM Partners analyst Rohit Kulkarni said. Register now for FREE unlimited access to Reuters. com Register Reporting by Akash Sriram and Nivedita Balu in Bengaluru; Editing by Savio D'Souza, Saumyadeb Chakrabarty and Anil D'Silva Our Standards: .