Social media "snap"-back; Snap, Pinterest reports help turn the tide

Magnite

03/02/2022 22:05

** Shares of social media firms surge in extended trading,
after being bludgeoned in regular session on Thurs amid
Facebook-owner Meta Platform Inc's  FB.O  meltdown
    ** Snap Inc  SNAP.N , which plunged 24% on Thurs, jumping
more than 50% after the bell on its rev beat, strong outlook
 urn:newsml:reuters.com:*:nL1N2UE000
    ** Pinterest  PINS.N  up 25% post-market after it topped rev
target on advertising strength  urn:newsml:reuters.com:*:nL4N2UE31M. PINS dropped ~10%
in regular trading
    ** Twitter  TWTR.N , down 5.6% on Thurs, rising 10% after
hours; Etsy  ETSY.O  up ~9%
    ** Alphabet Inc  GOOGL.O  up nearly 3% after hours, while FB
edges up ~2%
    ** Digital ad firms Trade Desk  TTD.O , Digital Turbine
 APPS.O , PubMatic  PUBM.O  and Magnite Inc  MGNI.O  all rising
>7% 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))