Snap

Snap Inc said the economy had worsened faster than expected in the last month and the social media company slashed its quarterly forecast, triggering an ...

Since late April, "the macroeconomic environment has deteriorated further and faster than anticipated. Shares of Snap ( SNAP) dropped 3.6% and Amazon ( AMZN)

Shares of social media and some digital ad companies tumbled Tuesday after Snap issued a warning to investors that it wouldn't meet its own targets for ...

"We expect all online ad platforms to feel some impact of a significant consumer pullback," Morgan Stanley analysts said in a Tuesday note to investors. The filing also led its peers with a heavy reliance on advertising down in the afternoon. Snap's shares are down about 83% from a 52-week high in September 2021 and are off 70% year to date.

Shares of Snap (SNAP) plunged nearly 40% in early trading Tuesday after Snap CEO Evan Spiegel told employees that the company would significantly slow ...

He said that Snap expects to report revenue below the lower end of guidance it gave investors. It said then that it expected up to 25% growth in revenue. In April, Snap reported first quarter earnings that missed analyst estimates for sales and profits.

A profit and revenue warning from Snap sent technology shares and the broader market tumbling after a strong rally Monday.

The stock market was falling sharply Tuesday, after Snap blamed the economy when it lowered its sales and profit guidance for the current quarter, rekindling worries about a recession. - Print Article - Order Reprints

Snap Inc. has sent shockwaves through the digital-advertising world after disclosing that the macroeconomic climate is having a deeper impact on performance ...

DR [direct-response] weakness or specific vertical weakness driving SNAP’s softening outlook, it’s hard to know if the market is getting specific stocks ‘right’ though a broad ad market recession appears increasingly likely” in the near term, he wrote. “The read will of course be negative for the space but a warranted debate is how much of this is SNAP-specific vs. Meta and Alphabet are “likely best insulated” given their positioning in direct-response advertising, he continued. He expects that the company is seeing broader pressure on brand advertising, which could be a negative sign for Pinterest given that company’s heavy exposure to the category. Snap’s acknowledgement of further macro pressures is weighing heavily on other technology stocks as well, with shares of Pinterest Inc. PINS, -23.59%off 26% and on track to log their own record single-day decline. The stock is on track for its largest one-day percentage decline on record.

A profit warning from the parent company of social platform Snapchat hit Meta, Pinterest, Twitter, Alphabet and even Amazon.

- Opinion: The ‘Stakeholder Capitalism’ War on the Enlightenment You may cancel your subscription at anytime by calling Customer Service. Nearly every major player in the sector reported a notable slowdown in advertising revenue growth during the recent first-quarter earnings season.

A profit warning from the parent company of social platform Snapchat hit Meta, Pinterest, Twitter, Alphabet and even Amazon.

- Opinion: Princeton Fed Me to the Cancel Culture Mob You may cancel your subscription at anytime by calling Customer Service. Nearly every major player in the sector reported a notable slowdown in advertising revenue growth during the recent first-quarter earnings season.

The social media company issued a profit warning that sent ripples across Wall Street.

He pointed out that while the outlook is disappointing, he expects the situation to be temporary, according to The Fly. He cited the company's strong fundamentals and the increasing adoption of its first-party data measurement by advertisers. Management went on to say that the company remains "excited" about the "long-term opportunity" ahead. The were a raft of outlook adjustments, as no fewer than a dozen of Wall Street's finest lowered their price targets on Snap.

The parent company of Snapchat warned that it would miss its own revenue forecast yesterday, sending shockwaves through advertising-dependent platforms.

“Hand-wringing over prospects for a U.S. recession beginning in the next year or two has become increasingly fevered,” he wrote. “Advertising is one of the first things to be cut,” he says. “It’s a fragile moment, and bad news is punished pretty brutally in the market.” “Forrester data shows that between 2021 and 2022, the only major social media platform that saw material gains in weekly usage among U.S. online adults is TikTok—from 18% in 2021 to 23% this year,” according to market research company Forrester. “Facebook dropped 3 percentage points and Snapchat and Instagram remained relatively flat year-over-year across all online adults.” “There will be a shakeout,” says Mark DiMassimo, founder and creative chief of DiGo, a New York advertising agency. DiMassimo agrees, saying that most of the advertisers on Snap are packaged goods, beauty, or fashion brands.

The tech-focused Nasdaq Composite declined more than 2% , with investors ditching tech stocks that rely on digital advertising spending.

You may cancel your subscription at anytime by calling Customer Service. The company issued a profit warning Monday and said it planned to slow hiring and spending. Social-media company Snap Inc.’s shares lost $9.68, or 43%, to $12.79, its largest percentage decline on record.

Pinterest, Meta and Twitter are all down after Snapchat said it'll have a tough time meeting revenue targets in the coming year.

Pinterest, Meta Platforms (formerly known as Facebook) and Twitter stocks all declined on Tuesday, as investors worry that Snap’s worsening outlook portends a dire year for other social media companies. After Snap, Pinterest is the second worst hit in percentage terms. In just one day, the fortunes of the billionaire founders of Snap, Meta Networks, Pinterest and Twitter fell by a combined $10 billion, Forbes estimates. Snap cofounder Bobby Murphy’s fortune fell by $1.9 billion on Tuesday to an estimated $2.9 billion. As a result, Snapchat cofounder and CEO Evan Spiegel is $1.7 billion poorer than on Monday, a 35% decline as of market close Tuesday. He’s now worth an estimated $3.1 billion. Now those stocks are coming back to Earth—along with the fortunes of their billionaire founders.