Snap’s investor warning of slow growth ahead has sent shivers through the social media sector, the digital advertising industry, and Wall Street. Though the general messaging that supply chain issues coupled with the war in Ukraine is bad for business is not exactly news, Snap CEO Evan Spiegel’s message that “the macro environment has deteriorated further and faster than we anticipated when we issued our quarterly guidance last month” hit a nerve. Snap lost 43 percent of its market cap on Tuesday, with the social media sector showing signs of drag and analysts forecasting trouble ahead for ad-supported media. Continue reading Dire Snap Forecast Dampens Social Media, Digital Ad Sectors

Amazon posted its third consecutive $100 billion quarter during Q2 this year; revenue grew 27 percent year-over-year to $113.08 billion. Refinitiv revealed earnings of $15.12 versus $12.30 per share, and revenue of $113.08 billion versus $115.2 billion. However, Amazon predicts slightly slower growth for the upcoming quarters. In Q3, the company estimates its operating profit would land somewhere between $2.5 billion and $6 billion. According to chief financial officer Brian Olsavsky, “most of Amazon’s 2021 spend and building openings are planned for the second-half of the year.” Continue reading Amazon Has Strong Q2, Earnings Helped by Cloud, Ad Sales

Alphabet’s Q4 revenue increased almost three times faster than profit, leading the tech titan to look for new growth areas. The company says that a one-time tax adjustment accounted for the missed Wall Street expectation. Google’s largest global advertising business and the very popular YouTube account for most of the revenue, but Alphabet is looking to mobile search, YouTube and automated ad buying as newer forms of advertising; its new smartphone Pixel and digital assistant-powered Google Home also show promise. Continue reading Alphabet: Search is Strong, Future Bets on YouTube, Pixel, IoT