Ad tech firms fall as Snap warning raises concerns

Digital Turbine

24/05/2022 12:19

** Shares of ad-buying software co Trade Desk  TTD.O  and
other cos dealing with advertising technology including
Google-parent Alphabet  GOOGL.O , Roku  ROKU.O , Adobe  ADBE.O ,
Pubmatic  PUBM.O  and Digital Turbine  APPS.O  fall between 1.5%
and 7.7% premarket
    ** Social media co Snap Inc  SNAP.N  expects to miss its Q2
revenue and adjusted EBITDA targets  urn:newsml:reuters.com:*:nL2N2XG013
    ** Brokerage Jefferies says macro environment for the whole
digital advertising industry is rapidly deteriorating
 urn:newsml:reuters.com:*:nL3N2XG0XQ
    ** SNAP and other social media cos Pinterest Inc  PINS.N ,
Twitter Inc  TWTR.N  and Meta Platforms Inc  FB.O  also down
premarket  urn:newsml:reuters.com:*:nL3N2XG1UD
    ** U.S stock futures down after Snap's warning  .N 
    ** Up to last close, TTD, ROKU, PUBM, ADBE, APPS and GOOGL
down between ~23% and ~60% YTD

 (Reporting by Chavi Mehta in Bengaluru)
 ((Chavi.Mehta@thomsonreuters.com;))