Meta, Alphabet, Pinterest shares shudder on Snap warning


FILE PHOTO: The Snapchat messaging application is seen on a phone screen August 3, 2017. REUTERS/Thomas White/File Photo

(Reuters) - Shares of Meta Platforms, Google-owner Alphabet and other companies that sell digital ads dropped late on Thursday after Snapchat owner Snap Inc blamed inflation for its slowest revenue growth since going public five years ago.

Snap was the first major social media company to release its September-quarter earnings, and its stock tumbled 25% following the disappointing results after the bell. Snap warned that it would see no revenue growth in the normally busy holiday quarter.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

How 'CoComelon' became a mass media juggernaut for preschoolers
Evolution of smartphone damage: From drips to drops
Are you tracking your health with a device? Here's what could happen with the data
US judge rejects SEC bid to sanction Elon Musk
What's really happening when you agree to a website's terms of service
Samsung ordered to pay $118 million for infringing Netlist patents
Sirius XM found liable in New York lawsuit over subscription cancellations
US Supreme Court tosses case involving securities fraud suit against Facebook
Amazon doubles down on AI startup Anthropic with another $4 billion
Factbox-Who are bankrupt Northvolt's creditors?

Others Also Read