Snap's rev miss dents ad tech, social media stocks

Digital Turbine

21/07/2022 21:52

** Shares of ad-buying software firm Trade Desk  TTD.O  down
4%, while social media co Pinterest Inc's  PINS.N  stock falling
~8% in extended trading in wake of Snap Inc's  SNAP.N  dour
report
    ** SNAP shares diving ~25% post-market after co misses rev
targets as record-high inflation, increasing competition hurt
advertising demand  urn:newsml:reuters.com:*:nL1N2Z22MN
    ** Other digital ad providers Digital Turbine  APPS.O ,
PubMatic  PUBM.O  and Magnite Inc  MGNI.O  down 4%-5% after
hours
    ** Social media cos Meta Platforms Inc  META.O , Alphabet
Inc  GOOGL.O  and Twitter Inc  TWTR.K  falling about 2%-5%
 urn:newsml:reuters.com:*:nL4N2Z23V9
    ** TWTR due to report results Fri morning with investors
keenly focused on its standoff with Elon Musk  urn:newsml:reuters.com:*:nL1N2Z21Z4    
    ** Meanwhile, Roku  ROKU.O , which also deals with
advertising tech, down 4% after the bell

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))