Ad mogul sees Meta rebounding 'extremely strongly,' Amazon ad revenue hitting $100 billion
Publishing timestamp: 2023-01-19 04:33:25
Summary
Martin Sorrell, executive chairman of U.K. advertising agency S4 Capital, believes that US tech companies will rebound strongly this year, despite mass layoffs and a challenging 2022. He expects Meta to address most of its business challenges in 2023 while benefiting from China's reopening. He also suggested that reopening of Chinese economy would be "huge" for big tech firms, noting that outbound Chinese business, or Chinese companies expanding their businesses abroad, were historically second-largest profit centers for likes of Meta, Amazon and Google parent Alphabet.
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Keywords: banks, meta platforms inc, s4 capital plc, davos - world economic forum, world economy, breaking news: davos, switzerland, alphabet class a, amazon.com inc, politics, business news,