Social media giants will face scrutiny this week over allegations that their platforms are fuelling a youth mental health crisis.
Browsing: Snap
The companies surpassed quarterly revenue expectations this week and posted positive metrics for their ad businesses.
Snapchat’s social media app is adding users at a faster clip, reaching more than 750 million per month.
Instagram appears to be copying another up-and-coming social media competitor: BeReal, a popular photo app.
Meta Platforms issued a gloomy forecast after recording its first ever quarterly drop in revenue, with recession fears and competitive pressures weighing on its digital ads sales.
Shares of social media firms fell sharply on Friday as Twitter joined the Snapchat owner in signalling a cutback in digital ad spend as economic growth sputters.
The heady, decades-long era of rapid sales gains, boundless jobs growth and ever-soaring share prices is coming to an end.
Megacap US technology stocks are sinking again along with hopes that this year’s selloff had reached the point of exhaustion.
Twitter, in one of its last earnings reports before Elon Musk takes the company private, reported revenue that missed analysts’ estimates.
Shares of Snap plummeted 25% on Thursday after it said privacy changes implemented by Apple hurt the company’s ability to target digital advertising.