Friday, 24 March, 2023

Shares of Meta, Alphabet, and Pinterest Tremble Following Snapchat's Warning

<p>After Snapchat owner Snap Inc. cited inflation as the cause of its worst revenue growth since going public five years ago, shares of Meta, Google owner Alphabet, and other businesses that sell digital ads fell. The first large social media company to announce its September quarter profits was Snap, and after the bell the poor numbers caused its stock to drop 25%. Snap issued a warning that it wouldn&#39;t experience revenue growth during the typically busy holiday quarter.</p>