Reported 2 months ago
Snap Inc. shares dropped 22% following a muted earnings forecast for the third quarter, raising concerns about its ability to compete in the advertising sector against larger companies like Meta and Alphabet. The company cited weak advertiser demand, especially in consumer discretionary sectors, while rivals reported strong ad spending. Analysts express skepticism about Snap's growth prospects, indicating challenges ahead as competition intensifies in the digital advertising space.
Source: YAHOO