Reported 27 days ago
Shares of digital ad sellers soared on Wednesday, driven by robust earnings reports from Google-parent Alphabet, Reddit, and Snap, indicating strong brand spending ahead of the holiday season. Collectively, these companies could add over $110 billion to their market capitalizations. Alphabet's shares rose by 5.4%, Reddit surged 37%, and Snap increased by 13.3%. These results suggest a buoyant U.S. economy, bolstered by election-related ad spending, and bode well for other ad-dependent companies like Meta Platforms and Pinterest.
Source: YAHOO