Meta is trouncing Snap in digital ads — here's why
Publishing timestamp: 2024-02-07 12:03:37
Summary
The article discusses Snap's struggles in getting its ad business back on track compared to rivals like Meta. Snap reported slower growth in its ad business compared to Meta, Google, Amazon, and Microsoft. Investors reacted negatively to Snap's earnings, causing the stock to drop 33%. The article highlights the uneven rebound in the digital ad market and the advantages that larger companies like Meta have over smaller competitors like Snap. Snap's CEO acknowledged the disappointment in the company's growth rate and discussed their investments in machine learning and AI technologies. The article also mentions Snap's efforts to distance itself from the broader social media universe and focus on its messaging platform.
Sentiment: NEGATIVE
Tickers: GOOGL, AMZN, AAPL, MSFT, SNAP, META,
Keywords: microsoft corp, snap inc, internet, alphabet inc, meta platforms inc, breaking news: technology, amazon.com inc, technology, business news, apple inc, social media, mobile,
Source: https://www.cnbc.com/2024/02/06/meta-is-trouncing-snap-in-digital-ads-heres-why.html