Snap Plunges 27% on Slowest Sales Growth as Advertisers Retreat

Bloomberg2022-10-21

Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, ...

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Comments

TeslaLegend
2022-10-21
TeslaLegend
Nice
Mr Mooney
2022-10-21
Mr Mooney
No hope for this stock... Dump early is better...
Upswing118
2022-10-21
Upswing118
Only way to rise again is via lock downs... But nobody wants that🤯
Road1Warrior
2022-10-21
Road1Warrior
i have a few of this share and i m still surprised that people can make this a real business?
- TeslaLegend:
  Nice
XiaTian
2022-10-21
XiaTian
Share your opinion about this news…
- XiaTian:
  Ok
XiaTian
2022-10-21
XiaTian
Ok

Leave a comment

548

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSnap Plunges 27% on Slowest Sales Growth as Advertisers Retreat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-21 07:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back","article_id":"2277241712","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2277241712","pubTimestamp":1666306964,"columns":[],"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- $Snap Inc(SNAP)$.reported its slowest quarterly sales growth ","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"广告客户撤退，SNAP销售额增长最慢，跌幅达27%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, saying that a decline in advertising spending continues to drag on results. Shares plunged more than 27% in late trading.The maker of the Snapchat app said third-quarter sales increased 6% to $1.13 billion. That was just shy of analysts’ average estimate of $1.14 billion, according to projections compiled by Bloomberg.The social media company spent the quarter shrinking and refocusing its business, announcing in August that it was cutting 20% of its workforce and slashing projects that don’t contribute to user or revenue growth, or to the company’s augmented reality efforts. The changes were in response to plunging sales, which Snap attributed to a slowdown in marketer spending.Revenue growth “continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds, and increased competition,” Snap said in its prepared remarks for investors. “We are finding that our advertising partners across many industries are decreasing their marketing budgets, especially in the face of operating environment headwinds, inflation-driven cost pressures, and rising costs of capital.”Snap stock, which closed at $10.79 per share, dropped as low as $7.78 in extended trading. The shares have fallen 77% this year.The Snapchat app, popular with young people for sending disappearing messages and augmenting videos with special effects, reported a total of 363 million daily active users in the quarter, up 57 million from a year earlier. That topped the 358.7 million estimate. Still, Snap’s average revenue per user slid 11% to $3.11, missing the $3.19 average analyst projection.Users in a key market, the US, spent 5% less time watching content than in the same quarter of last year. American Snapchatters aren’t viewing as many Stories posted by friends, the company said. That trend could concern advertisers.“Facing an economic downturn, marketing teams are feeling the pressure to prove the ROI of every single line item on their media plans, and they’re going to consolidate spend to fewer, stronger channels and partners as a result,” Kelsey Chickering, an analyst at Forrester, said in an email. “Unfortunately for Snapchat, their share of advertiser budgets will likely shrink further, as marketers shift into the most efficient and proven channels.”The company is prioritizing efforts that can boost revenue. In the third quarter, Snap grew its nascent subscription service, Snapchat+, to 1.5 million users who pay for early access to exclusive or pre-release features, Snap said Thursday. The app maker has also been investing in improving measurement tools for ads on its platform.Snap posted a net loss of $360 million in the quarter, or 22 cents per share. The loss includes $155 million in restructuring costs. The board also authorized a $500 million share repurchase plan for its Class A stock over the next 12 months, Snap said.Investors were watching Santa Monica, California-based Snap for clues on the performance of other advertising-dependent social media businesses. Next week, Meta Platforms Inc. and Alphabet Inc. report earnings.Snap and platforms like Meta’s Facebook and Alphabet’s Google are competing for a shrinking pool of advertising dollars this year. Spiraling inflation is putting pressure on companies and consumer spending. Meanwhile, new rules from Apple Inc. that require all apps to get smartphone users’ permission to be tracked online have made it more difficult for advertisers to measure and manage their ad campaigns.Shares of Meta, Alphabet and Pinterest Inc., another advertising reliant site, all fell in after-market trading following Snap’s report.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9983776167,"gmtCreate":1666329926460,"gmtModify":1676537742393,"author":{"id":"3572489627147183","authorId":"3572489627147183","name":"TeslaLegend","avatar":"https://static.tigerbbs.com/180ad6f06095bcbf2b6594d26c494752","vip":1,"hat":"https://static.tigerbbs.com/f84859c65fc2d7681e28f6b8e9b0535a","crmLevel":4,"crmLevelSwitch":1,"idStr":"3572489627147183","authorIdStr":"3572489627147183"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9983776167","repostId":2277241712,"repostType":4,"repost":{"id":"2277241712","kind":"highlight","pubTimestamp":1666306964,"share":"https://ttm.financial/m/news/2277241712?lang=&edition=fundamental","pubTime":"2022-10-21 07:02","market":"us","language":"en","title":"Snap Plunges 27% on Slowest Sales Growth as Advertisers Retreat","url":"https://stock-news.laohu8.com/highlight/detail?id=2277241712","media":"Bloomberg","summary":"Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- $Snap Inc(SNAP)$.reported its slowest quarterly sales growth ","content":"<html><head></head><body><ul><li>Company says US users are spending less time on Snapchat video</li><li>Snap has cut workforce to focus on revenue-generating projects</li></ul><p>(Bloomberg) -- <a href=\"https://laohu8.com/S/SNAP\">Snap Inc</a>. reported its slowest quarterly sales growth ever, saying that a decline in advertising spending continues to drag on results. Shares plunged more than 27% in late trading.</p><p><img src=\"https://static.tigerbbs.com/022f95681d884baac75ec100c7b32f35\" tg-width=\"866\" tg-height=\"673\" width=\"100%\" height=\"auto\"/>The maker of the Snapchat app said third-quarter sales increased 6% to $1.13 billion. That was just shy of analysts’ average estimate of $1.14 billion, according to projections compiled by Bloomberg.</p><p>The social media company spent the quarter shrinking and refocusing its business, announcing in August that it was cutting 20% of its workforce and slashing projects that don’t contribute to user or revenue growth, or to the company’s augmented reality efforts. The changes were in response to plunging sales, which Snap attributed to a slowdown in marketer spending.</p><p>Revenue growth “continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds, and increased competition,” Snap said in its prepared remarks for investors. “We are finding that our advertising partners across many industries are decreasing their marketing budgets, especially in the face of operating environment headwinds, inflation-driven cost pressures, and rising costs of capital.”</p><p>Snap stock, which closed at $10.79 per share, dropped as low as $7.78 in extended trading. The shares have fallen 77% this year.</p><p>The Snapchat app, popular with young people for sending disappearing messages and augmenting videos with special effects, reported a total of 363 million daily active users in the quarter, up 57 million from a year earlier. That topped the 358.7 million estimate. Still, Snap’s average revenue per user slid 11% to $3.11, missing the $3.19 average analyst projection.</p><p>Users in a key market, the US, spent 5% less time watching content than in the same quarter of last year. American Snapchatters aren’t viewing as many Stories posted by friends, the company said. That trend could concern advertisers.</p><p>“Facing an economic downturn, marketing teams are feeling the pressure to prove the ROI of every single line item on their media plans, and they’re going to consolidate spend to fewer, stronger channels and partners as a result,” Kelsey Chickering, an analyst at Forrester, said in an email. “Unfortunately for Snapchat, their share of advertiser budgets will likely shrink further, as marketers shift into the most efficient and proven channels.”</p><p>The company is prioritizing efforts that can boost revenue. In the third quarter, Snap grew its nascent subscription service, Snapchat+, to 1.5 million users who pay for early access to exclusive or pre-release features, Snap said Thursday. The app maker has also been investing in improving measurement tools for ads on its platform.</p><p>Snap posted a net loss of $360 million in the quarter, or 22 cents per share. The loss includes $155 million in restructuring costs. The board also authorized a $500 million share repurchase plan for its Class A stock over the next 12 months, Snap said.</p><p>Investors were watching Santa Monica, California-based Snap for clues on the performance of other advertising-dependent social media businesses. Next week, Meta Platforms Inc. and Alphabet Inc. report earnings.</p><p>Snap and platforms like Meta’s Facebook and Alphabet’s Google are competing for a shrinking pool of advertising dollars this year. Spiraling inflation is putting pressure on companies and consumer spending. Meanwhile, new rules from Apple Inc. that require all apps to get smartphone users’ permission to be tracked online have made it more difficult for advertisers to measure and manage their ad campaigns.</p><p>Shares of Meta, Alphabet and Pinterest Inc., another advertising reliant site, all fell in after-market trading following Snap’s report.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Snap Plunges 27% on Slowest Sales Growth as Advertisers Retreat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSnap Plunges 27% on Slowest Sales Growth as Advertisers Retreat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-21 07:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2277241712","content_text":"Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, saying that a decline in advertising spending continues to drag on results. Shares plunged more than 27% in late trading.The maker of the Snapchat app said third-quarter sales increased 6% to $1.13 billion. That was just shy of analysts’ average estimate of $1.14 billion, according to projections compiled by Bloomberg.The social media company spent the quarter shrinking and refocusing its business, announcing in August that it was cutting 20% of its workforce and slashing projects that don’t contribute to user or revenue growth, or to the company’s augmented reality efforts. The changes were in response to plunging sales, which Snap attributed to a slowdown in marketer spending.Revenue growth “continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds, and increased competition,” Snap said in its prepared remarks for investors. “We are finding that our advertising partners across many industries are decreasing their marketing budgets, especially in the face of operating environment headwinds, inflation-driven cost pressures, and rising costs of capital.”Snap stock, which closed at $10.79 per share, dropped as low as $7.78 in extended trading. The shares have fallen 77% this year.The Snapchat app, popular with young people for sending disappearing messages and augmenting videos with special effects, reported a total of 363 million daily active users in the quarter, up 57 million from a year earlier. That topped the 358.7 million estimate. Still, Snap’s average revenue per user slid 11% to $3.11, missing the $3.19 average analyst projection.Users in a key market, the US, spent 5% less time watching content than in the same quarter of last year. American Snapchatters aren’t viewing as many Stories posted by friends, the company said. That trend could concern advertisers.“Facing an economic downturn, marketing teams are feeling the pressure to prove the ROI of every single line item on their media plans, and they’re going to consolidate spend to fewer, stronger channels and partners as a result,” Kelsey Chickering, an analyst at Forrester, said in an email. “Unfortunately for Snapchat, their share of advertiser budgets will likely shrink further, as marketers shift into the most efficient and proven channels.”The company is prioritizing efforts that can boost revenue. In the third quarter, Snap grew its nascent subscription service, Snapchat+, to 1.5 million users who pay for early access to exclusive or pre-release features, Snap said Thursday. The app maker has also been investing in improving measurement tools for ads on its platform.Snap posted a net loss of $360 million in the quarter, or 22 cents per share. The loss includes $155 million in restructuring costs. The board also authorized a $500 million share repurchase plan for its Class A stock over the next 12 months, Snap said.Investors were watching Santa Monica, California-based Snap for clues on the performance of other advertising-dependent social media businesses. Next week, Meta Platforms Inc. and Alphabet Inc. report earnings.Snap and platforms like Meta’s Facebook and Alphabet’s Google are competing for a shrinking pool of advertising dollars this year. Spiraling inflation is putting pressure on companies and consumer spending. Meanwhile, new rules from Apple Inc. that require all apps to get smartphone users’ permission to be tracked online have made it more difficult for advertisers to measure and manage their ad campaigns.Shares of Meta, Alphabet and Pinterest Inc., another advertising reliant site, all fell in after-market trading following Snap’s report.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9983773518,"gmtCreate":1666328952134,"gmtModify":1676537742303,"author":{"id":"3583044537429562","authorId":"3583044537429562","name":"Mr Mooney","avatar":"https://community-static.tradeup.com/news/6836340f20d36afa666f6d8d4b0a929d","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3583044537429562","authorIdStr":"3583044537429562"},"htmlText":"No hope for this stock... Dump early is better...","listText":"No hope for this stock... Dump early is better...","text":"No hope for this stock... Dump early is better...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9983773518","repostId":2277241712,"repostType":4,"repost":{"id":"2277241712","kind":"highlight","pubTimestamp":1666306964,"share":"https://ttm.financial/m/news/2277241712?lang=&edition=fundamental","pubTime":"2022-10-21 07:02","market":"us","language":"en","title":"Snap Plunges 27% on Slowest Sales Growth as Advertisers Retreat","url":"https://stock-news.laohu8.com/highlight/detail?id=2277241712","media":"Bloomberg","summary":"Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- $Snap Inc(SNAP)$.reported its slowest quarterly sales growth ","content":"<html><head></head><body><ul><li>Company says US users are spending less time on Snapchat video</li><li>Snap has cut workforce to focus on revenue-generating projects</li></ul><p>(Bloomberg) -- <a href=\"https://laohu8.com/S/SNAP\">Snap Inc</a>. reported its slowest quarterly sales growth ever, saying that a decline in advertising spending continues to drag on results. Shares plunged more than 27% in late trading.</p><p><img src=\"https://static.tigerbbs.com/022f95681d884baac75ec100c7b32f35\" tg-width=\"866\" tg-height=\"673\" width=\"100%\" height=\"auto\"/>The maker of the Snapchat app said third-quarter sales increased 6% to $1.13 billion. That was just shy of analysts’ average estimate of $1.14 billion, according to projections compiled by Bloomberg.</p><p>The social media company spent the quarter shrinking and refocusing its business, announcing in August that it was cutting 20% of its workforce and slashing projects that don’t contribute to user or revenue growth, or to the company’s augmented reality efforts. The changes were in response to plunging sales, which Snap attributed to a slowdown in marketer spending.</p><p>Revenue growth “continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds, and increased competition,” Snap said in its prepared remarks for investors. “We are finding that our advertising partners across many industries are decreasing their marketing budgets, especially in the face of operating environment headwinds, inflation-driven cost pressures, and rising costs of capital.”</p><p>Snap stock, which closed at $10.79 per share, dropped as low as $7.78 in extended trading. The shares have fallen 77% this year.</p><p>The Snapchat app, popular with young people for sending disappearing messages and augmenting videos with special effects, reported a total of 363 million daily active users in the quarter, up 57 million from a year earlier. That topped the 358.7 million estimate. Still, Snap’s average revenue per user slid 11% to $3.11, missing the $3.19 average analyst projection.</p><p>Users in a key market, the US, spent 5% less time watching content than in the same quarter of last year. American Snapchatters aren’t viewing as many Stories posted by friends, the company said. That trend could concern advertisers.</p><p>“Facing an economic downturn, marketing teams are feeling the pressure to prove the ROI of every single line item on their media plans, and they’re going to consolidate spend to fewer, stronger channels and partners as a result,” Kelsey Chickering, an analyst at Forrester, said in an email. “Unfortunately for Snapchat, their share of advertiser budgets will likely shrink further, as marketers shift into the most efficient and proven channels.”</p><p>The company is prioritizing efforts that can boost revenue. In the third quarter, Snap grew its nascent subscription service, Snapchat+, to 1.5 million users who pay for early access to exclusive or pre-release features, Snap said Thursday. The app maker has also been investing in improving measurement tools for ads on its platform.</p><p>Snap posted a net loss of $360 million in the quarter, or 22 cents per share. The loss includes $155 million in restructuring costs. The board also authorized a $500 million share repurchase plan for its Class A stock over the next 12 months, Snap said.</p><p>Investors were watching Santa Monica, California-based Snap for clues on the performance of other advertising-dependent social media businesses. Next week, Meta Platforms Inc. and Alphabet Inc. report earnings.</p><p>Snap and platforms like Meta’s Facebook and Alphabet’s Google are competing for a shrinking pool of advertising dollars this year. Spiraling inflation is putting pressure on companies and consumer spending. Meanwhile, new rules from Apple Inc. that require all apps to get smartphone users’ permission to be tracked online have made it more difficult for advertisers to measure and manage their ad campaigns.</p><p>Shares of Meta, Alphabet and Pinterest Inc., another advertising reliant site, all fell in after-market trading following Snap’s report.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Snap Plunges 27% on Slowest Sales Growth as Advertisers Retreat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSnap Plunges 27% on Slowest Sales Growth as Advertisers Retreat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-21 07:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2277241712","content_text":"Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, saying that a decline in advertising spending continues to drag on results. Shares plunged more than 27% in late trading.The maker of the Snapchat app said third-quarter sales increased 6% to $1.13 billion. That was just shy of analysts’ average estimate of $1.14 billion, according to projections compiled by Bloomberg.The social media company spent the quarter shrinking and refocusing its business, announcing in August that it was cutting 20% of its workforce and slashing projects that don’t contribute to user or revenue growth, or to the company’s augmented reality efforts. The changes were in response to plunging sales, which Snap attributed to a slowdown in marketer spending.Revenue growth “continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds, and increased competition,” Snap said in its prepared remarks for investors. “We are finding that our advertising partners across many industries are decreasing their marketing budgets, especially in the face of operating environment headwinds, inflation-driven cost pressures, and rising costs of capital.”Snap stock, which closed at $10.79 per share, dropped as low as $7.78 in extended trading. The shares have fallen 77% this year.The Snapchat app, popular with young people for sending disappearing messages and augmenting videos with special effects, reported a total of 363 million daily active users in the quarter, up 57 million from a year earlier. That topped the 358.7 million estimate. Still, Snap’s average revenue per user slid 11% to $3.11, missing the $3.19 average analyst projection.Users in a key market, the US, spent 5% less time watching content than in the same quarter of last year. American Snapchatters aren’t viewing as many Stories posted by friends, the company said. That trend could concern advertisers.“Facing an economic downturn, marketing teams are feeling the pressure to prove the ROI of every single line item on their media plans, and they’re going to consolidate spend to fewer, stronger channels and partners as a result,” Kelsey Chickering, an analyst at Forrester, said in an email. “Unfortunately for Snapchat, their share of advertiser budgets will likely shrink further, as marketers shift into the most efficient and proven channels.”The company is prioritizing efforts that can boost revenue. In the third quarter, Snap grew its nascent subscription service, Snapchat+, to 1.5 million users who pay for early access to exclusive or pre-release features, Snap said Thursday. The app maker has also been investing in improving measurement tools for ads on its platform.Snap posted a net loss of $360 million in the quarter, or 22 cents per share. The loss includes $155 million in restructuring costs. The board also authorized a $500 million share repurchase plan for its Class A stock over the next 12 months, Snap said.Investors were watching Santa Monica, California-based Snap for clues on the performance of other advertising-dependent social media businesses. Next week, Meta Platforms Inc. and Alphabet Inc. report earnings.Snap and platforms like Meta’s Facebook and Alphabet’s Google are competing for a shrinking pool of advertising dollars this year. Spiraling inflation is putting pressure on companies and consumer spending. Meanwhile, new rules from Apple Inc. that require all apps to get smartphone users’ permission to be tracked online have made it more difficult for advertisers to measure and manage their ad campaigns.Shares of Meta, Alphabet and Pinterest Inc., another advertising reliant site, all fell in after-market trading following Snap’s report.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9983779917,"gmtCreate":1666328721540,"gmtModify":1676537742262,"author":{"id":"4087685930931350","authorId":"4087685930931350","name":"Upswing118","avatar":"https://static.tigerbbs.com/5ee810deeb4fd3c3d863b49cef1d9956","vip":1,"crmLevel":5,"crmLevelSwitch":1,"idStr":"4087685930931350","authorIdStr":"4087685930931350"},"htmlText":"Only way to rise again is via lock downs... But nobody wants that🤯","listText":"Only way to rise again is via lock downs... But nobody wants that🤯","text":"Only way to rise again is via lock downs... But nobody wants that🤯","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9983779917","repostId":2277241712,"repostType":4,"repost":{"id":"2277241712","kind":"highlight","pubTimestamp":1666306964,"share":"https://ttm.financial/m/news/2277241712?lang=&edition=fundamental","pubTime":"2022-10-21 07:02","market":"us","language":"en","title":"Snap Plunges 27% on Slowest Sales Growth as Advertisers Retreat","url":"https://stock-news.laohu8.com/highlight/detail?id=2277241712","media":"Bloomberg","summary":"Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- $Snap Inc(SNAP)$.reported its slowest quarterly sales growth ","content":"<html><head></head><body><ul><li>Company says US users are spending less time on Snapchat video</li><li>Snap has cut workforce to focus on revenue-generating projects</li></ul><p>(Bloomberg) -- <a href=\"https://laohu8.com/S/SNAP\">Snap Inc</a>. reported its slowest quarterly sales growth ever, saying that a decline in advertising spending continues to drag on results. Shares plunged more than 27% in late trading.</p><p><img src=\"https://static.tigerbbs.com/022f95681d884baac75ec100c7b32f35\" tg-width=\"866\" tg-height=\"673\" width=\"100%\" height=\"auto\"/>The maker of the Snapchat app said third-quarter sales increased 6% to $1.13 billion. That was just shy of analysts’ average estimate of $1.14 billion, according to projections compiled by Bloomberg.</p><p>The social media company spent the quarter shrinking and refocusing its business, announcing in August that it was cutting 20% of its workforce and slashing projects that don’t contribute to user or revenue growth, or to the company’s augmented reality efforts. The changes were in response to plunging sales, which Snap attributed to a slowdown in marketer spending.</p><p>Revenue growth “continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds, and increased competition,” Snap said in its prepared remarks for investors. “We are finding that our advertising partners across many industries are decreasing their marketing budgets, especially in the face of operating environment headwinds, inflation-driven cost pressures, and rising costs of capital.”</p><p>Snap stock, which closed at $10.79 per share, dropped as low as $7.78 in extended trading. The shares have fallen 77% this year.</p><p>The Snapchat app, popular with young people for sending disappearing messages and augmenting videos with special effects, reported a total of 363 million daily active users in the quarter, up 57 million from a year earlier. That topped the 358.7 million estimate. Still, Snap’s average revenue per user slid 11% to $3.11, missing the $3.19 average analyst projection.</p><p>Users in a key market, the US, spent 5% less time watching content than in the same quarter of last year. American Snapchatters aren’t viewing as many Stories posted by friends, the company said. That trend could concern advertisers.</p><p>“Facing an economic downturn, marketing teams are feeling the pressure to prove the ROI of every single line item on their media plans, and they’re going to consolidate spend to fewer, stronger channels and partners as a result,” Kelsey Chickering, an analyst at Forrester, said in an email. “Unfortunately for Snapchat, their share of advertiser budgets will likely shrink further, as marketers shift into the most efficient and proven channels.”</p><p>The company is prioritizing efforts that can boost revenue. In the third quarter, Snap grew its nascent subscription service, Snapchat+, to 1.5 million users who pay for early access to exclusive or pre-release features, Snap said Thursday. The app maker has also been investing in improving measurement tools for ads on its platform.</p><p>Snap posted a net loss of $360 million in the quarter, or 22 cents per share. The loss includes $155 million in restructuring costs. The board also authorized a $500 million share repurchase plan for its Class A stock over the next 12 months, Snap said.</p><p>Investors were watching Santa Monica, California-based Snap for clues on the performance of other advertising-dependent social media businesses. Next week, Meta Platforms Inc. and Alphabet Inc. report earnings.</p><p>Snap and platforms like Meta’s Facebook and Alphabet’s Google are competing for a shrinking pool of advertising dollars this year. Spiraling inflation is putting pressure on companies and consumer spending. Meanwhile, new rules from Apple Inc. that require all apps to get smartphone users’ permission to be tracked online have made it more difficult for advertisers to measure and manage their ad campaigns.</p><p>Shares of Meta, Alphabet and Pinterest Inc., another advertising reliant site, all fell in after-market trading following Snap’s report.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Snap Plunges 27% on Slowest Sales Growth as Advertisers Retreat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSnap Plunges 27% on Slowest Sales Growth as Advertisers Retreat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-21 07:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2277241712","content_text":"Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, saying that a decline in advertising spending continues to drag on results. Shares plunged more than 27% in late trading.The maker of the Snapchat app said third-quarter sales increased 6% to $1.13 billion. That was just shy of analysts’ average estimate of $1.14 billion, according to projections compiled by Bloomberg.The social media company spent the quarter shrinking and refocusing its business, announcing in August that it was cutting 20% of its workforce and slashing projects that don’t contribute to user or revenue growth, or to the company’s augmented reality efforts. The changes were in response to plunging sales, which Snap attributed to a slowdown in marketer spending.Revenue growth “continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds, and increased competition,” Snap said in its prepared remarks for investors. “We are finding that our advertising partners across many industries are decreasing their marketing budgets, especially in the face of operating environment headwinds, inflation-driven cost pressures, and rising costs of capital.”Snap stock, which closed at $10.79 per share, dropped as low as $7.78 in extended trading. The shares have fallen 77% this year.The Snapchat app, popular with young people for sending disappearing messages and augmenting videos with special effects, reported a total of 363 million daily active users in the quarter, up 57 million from a year earlier. That topped the 358.7 million estimate. Still, Snap’s average revenue per user slid 11% to $3.11, missing the $3.19 average analyst projection.Users in a key market, the US, spent 5% less time watching content than in the same quarter of last year. American Snapchatters aren’t viewing as many Stories posted by friends, the company said. That trend could concern advertisers.“Facing an economic downturn, marketing teams are feeling the pressure to prove the ROI of every single line item on their media plans, and they’re going to consolidate spend to fewer, stronger channels and partners as a result,” Kelsey Chickering, an analyst at Forrester, said in an email. “Unfortunately for Snapchat, their share of advertiser budgets will likely shrink further, as marketers shift into the most efficient and proven channels.”The company is prioritizing efforts that can boost revenue. In the third quarter, Snap grew its nascent subscription service, Snapchat+, to 1.5 million users who pay for early access to exclusive or pre-release features, Snap said Thursday. The app maker has also been investing in improving measurement tools for ads on its platform.Snap posted a net loss of $360 million in the quarter, or 22 cents per share. The loss includes $155 million in restructuring costs. The board also authorized a $500 million share repurchase plan for its Class A stock over the next 12 months, Snap said.Investors were watching Santa Monica, California-based Snap for clues on the performance of other advertising-dependent social media businesses. Next week, Meta Platforms Inc. and Alphabet Inc. report earnings.Snap and platforms like Meta’s Facebook and Alphabet’s Google are competing for a shrinking pool of advertising dollars this year. Spiraling inflation is putting pressure on companies and consumer spending. Meanwhile, new rules from Apple Inc. that require all apps to get smartphone users’ permission to be tracked online have made it more difficult for advertisers to measure and manage their ad campaigns.Shares of Meta, Alphabet and Pinterest Inc., another advertising reliant site, all fell in after-market trading following Snap’s report.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9983744728,"gmtCreate":1666327977964,"gmtModify":1676537742200,"author":{"id":"4098084219326670","authorId":"4098084219326670","name":"Road1Warrior","avatar":"https://community-static.tradeup.com/news/444bc0aeceab5292f15cd24cd37ab6c3","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":4,"crmLevelSwitch":1,"idStr":"4098084219326670","authorIdStr":"4098084219326670"},"htmlText":"i have a few of this share and i m still surprised that people can make this a real business?","listText":"i have a few of this share and i m still surprised that people can make this a real business?","text":"i have a few of this share and i m still surprised that people can make this a real business?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9983744728","repostId":2277241712,"repostType":4,"repost":{"id":"2277241712","kind":"highlight","pubTimestamp":1666306964,"share":"https://ttm.financial/m/news/2277241712?lang=&edition=fundamental","pubTime":"2022-10-21 07:02","market":"us","language":"en","title":"Snap Plunges 27% on Slowest Sales Growth as Advertisers Retreat","url":"https://stock-news.laohu8.com/highlight/detail?id=2277241712","media":"Bloomberg","summary":"Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- $Snap Inc(SNAP)$.reported its slowest quarterly sales growth ","content":"<html><head></head><body><ul><li>Company says US users are spending less time on Snapchat video</li><li>Snap has cut workforce to focus on revenue-generating projects</li></ul><p>(Bloomberg) -- <a href=\"https://laohu8.com/S/SNAP\">Snap Inc</a>. reported its slowest quarterly sales growth ever, saying that a decline in advertising spending continues to drag on results. Shares plunged more than 27% in late trading.</p><p><img src=\"https://static.tigerbbs.com/022f95681d884baac75ec100c7b32f35\" tg-width=\"866\" tg-height=\"673\" width=\"100%\" height=\"auto\"/>The maker of the Snapchat app said third-quarter sales increased 6% to $1.13 billion. That was just shy of analysts’ average estimate of $1.14 billion, according to projections compiled by Bloomberg.</p><p>The social media company spent the quarter shrinking and refocusing its business, announcing in August that it was cutting 20% of its workforce and slashing projects that don’t contribute to user or revenue growth, or to the company’s augmented reality efforts. The changes were in response to plunging sales, which Snap attributed to a slowdown in marketer spending.</p><p>Revenue growth “continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds, and increased competition,” Snap said in its prepared remarks for investors. “We are finding that our advertising partners across many industries are decreasing their marketing budgets, especially in the face of operating environment headwinds, inflation-driven cost pressures, and rising costs of capital.”</p><p>Snap stock, which closed at $10.79 per share, dropped as low as $7.78 in extended trading. The shares have fallen 77% this year.</p><p>The Snapchat app, popular with young people for sending disappearing messages and augmenting videos with special effects, reported a total of 363 million daily active users in the quarter, up 57 million from a year earlier. That topped the 358.7 million estimate. Still, Snap’s average revenue per user slid 11% to $3.11, missing the $3.19 average analyst projection.</p><p>Users in a key market, the US, spent 5% less time watching content than in the same quarter of last year. American Snapchatters aren’t viewing as many Stories posted by friends, the company said. That trend could concern advertisers.</p><p>“Facing an economic downturn, marketing teams are feeling the pressure to prove the ROI of every single line item on their media plans, and they’re going to consolidate spend to fewer, stronger channels and partners as a result,” Kelsey Chickering, an analyst at Forrester, said in an email. “Unfortunately for Snapchat, their share of advertiser budgets will likely shrink further, as marketers shift into the most efficient and proven channels.”</p><p>The company is prioritizing efforts that can boost revenue. In the third quarter, Snap grew its nascent subscription service, Snapchat+, to 1.5 million users who pay for early access to exclusive or pre-release features, Snap said Thursday. The app maker has also been investing in improving measurement tools for ads on its platform.</p><p>Snap posted a net loss of $360 million in the quarter, or 22 cents per share. The loss includes $155 million in restructuring costs. The board also authorized a $500 million share repurchase plan for its Class A stock over the next 12 months, Snap said.</p><p>Investors were watching Santa Monica, California-based Snap for clues on the performance of other advertising-dependent social media businesses. Next week, Meta Platforms Inc. and Alphabet Inc. report earnings.</p><p>Snap and platforms like Meta’s Facebook and Alphabet’s Google are competing for a shrinking pool of advertising dollars this year. Spiraling inflation is putting pressure on companies and consumer spending. Meanwhile, new rules from Apple Inc. that require all apps to get smartphone users’ permission to be tracked online have made it more difficult for advertisers to measure and manage their ad campaigns.</p><p>Shares of Meta, Alphabet and Pinterest Inc., another advertising reliant site, all fell in after-market trading following Snap’s report.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Snap Plunges 27% on Slowest Sales Growth as Advertisers Retreat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSnap Plunges 27% on Slowest Sales Growth as Advertisers Retreat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-21 07:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2277241712","content_text":"Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, saying that a decline in advertising spending continues to drag on results. Shares plunged more than 27% in late trading.The maker of the Snapchat app said third-quarter sales increased 6% to $1.13 billion. That was just shy of analysts’ average estimate of $1.14 billion, according to projections compiled by Bloomberg.The social media company spent the quarter shrinking and refocusing its business, announcing in August that it was cutting 20% of its workforce and slashing projects that don’t contribute to user or revenue growth, or to the company’s augmented reality efforts. The changes were in response to plunging sales, which Snap attributed to a slowdown in marketer spending.Revenue growth “continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds, and increased competition,” Snap said in its prepared remarks for investors. “We are finding that our advertising partners across many industries are decreasing their marketing budgets, especially in the face of operating environment headwinds, inflation-driven cost pressures, and rising costs of capital.”Snap stock, which closed at $10.79 per share, dropped as low as $7.78 in extended trading. The shares have fallen 77% this year.The Snapchat app, popular with young people for sending disappearing messages and augmenting videos with special effects, reported a total of 363 million daily active users in the quarter, up 57 million from a year earlier. That topped the 358.7 million estimate. Still, Snap’s average revenue per user slid 11% to $3.11, missing the $3.19 average analyst projection.Users in a key market, the US, spent 5% less time watching content than in the same quarter of last year. American Snapchatters aren’t viewing as many Stories posted by friends, the company said. That trend could concern advertisers.“Facing an economic downturn, marketing teams are feeling the pressure to prove the ROI of every single line item on their media plans, and they’re going to consolidate spend to fewer, stronger channels and partners as a result,” Kelsey Chickering, an analyst at Forrester, said in an email. “Unfortunately for Snapchat, their share of advertiser budgets will likely shrink further, as marketers shift into the most efficient and proven channels.”The company is prioritizing efforts that can boost revenue. In the third quarter, Snap grew its nascent subscription service, Snapchat+, to 1.5 million users who pay for early access to exclusive or pre-release features, Snap said Thursday. The app maker has also been investing in improving measurement tools for ads on its platform.Snap posted a net loss of $360 million in the quarter, or 22 cents per share. The loss includes $155 million in restructuring costs. The board also authorized a $500 million share repurchase plan for its Class A stock over the next 12 months, Snap said.Investors were watching Santa Monica, California-based Snap for clues on the performance of other advertising-dependent social media businesses. Next week, Meta Platforms Inc. and Alphabet Inc. report earnings.Snap and platforms like Meta’s Facebook and Alphabet’s Google are competing for a shrinking pool of advertising dollars this year. Spiraling inflation is putting pressure on companies and consumer spending. Meanwhile, new rules from Apple Inc. that require all apps to get smartphone users’ permission to be tracked online have made it more difficult for advertisers to measure and manage their ad campaigns.Shares of Meta, Alphabet and Pinterest Inc., another advertising reliant site, all fell in after-market trading following Snap’s report.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":104446158,"gmtCreate":1666329953613,"gmtModify":1666329956762,"authorId":3572489627147183,"author":{"id":3572489627147183,"idStr":"3572489627147183","authorId":3572489627147183,"name":"TeslaLegend","avatar":"https://static.tigerbbs.com/180ad6f06095bcbf2b6594d26c494752","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.09.28","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9983744728,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Nice</span>","text":"<span class=\"s1\">Nice</span>","html":"<span class=\"s1\">Nice</span>"}],"langContent":"EN"},{"id":9983742109,"gmtCreate":1666327444401,"gmtModify":1676537742127,"author":{"id":"3575368380492738","authorId":"3575368380492738","name":"XiaTian","avatar":"https://community-static.tradeup.com/news/71777f1a5ae276e73064272b5ae7df92","vip":1,"crmLevel":3,"crmLevelSwitch":1,"idStr":"3575368380492738","authorIdStr":"3575368380492738"},"htmlText":"Share your opinion about this news…","listText":"Share your opinion about this news…","text":"Share your opinion about this news…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9983742109","repostId":2277241712,"repostType":4,"repost":{"id":"2277241712","kind":"highlight","pubTimestamp":1666306964,"share":"https://ttm.financial/m/news/2277241712?lang=&edition=fundamental","pubTime":"2022-10-21 07:02","market":"us","language":"en","title":"Snap Plunges 27% on Slowest Sales Growth as Advertisers Retreat","url":"https://stock-news.laohu8.com/highlight/detail?id=2277241712","media":"Bloomberg","summary":"Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- $Snap Inc(SNAP)$.reported its slowest quarterly sales growth ","content":"<html><head></head><body><ul><li>Company says US users are spending less time on Snapchat video</li><li>Snap has cut workforce to focus on revenue-generating projects</li></ul><p>(Bloomberg) -- <a href=\"https://laohu8.com/S/SNAP\">Snap Inc</a>. reported its slowest quarterly sales growth ever, saying that a decline in advertising spending continues to drag on results. Shares plunged more than 27% in late trading.</p><p><img src=\"https://static.tigerbbs.com/022f95681d884baac75ec100c7b32f35\" tg-width=\"866\" tg-height=\"673\" width=\"100%\" height=\"auto\"/>The maker of the Snapchat app said third-quarter sales increased 6% to $1.13 billion. That was just shy of analysts’ average estimate of $1.14 billion, according to projections compiled by Bloomberg.</p><p>The social media company spent the quarter shrinking and refocusing its business, announcing in August that it was cutting 20% of its workforce and slashing projects that don’t contribute to user or revenue growth, or to the company’s augmented reality efforts. The changes were in response to plunging sales, which Snap attributed to a slowdown in marketer spending.</p><p>Revenue growth “continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds, and increased competition,” Snap said in its prepared remarks for investors. “We are finding that our advertising partners across many industries are decreasing their marketing budgets, especially in the face of operating environment headwinds, inflation-driven cost pressures, and rising costs of capital.”</p><p>Snap stock, which closed at $10.79 per share, dropped as low as $7.78 in extended trading. The shares have fallen 77% this year.</p><p>The Snapchat app, popular with young people for sending disappearing messages and augmenting videos with special effects, reported a total of 363 million daily active users in the quarter, up 57 million from a year earlier. That topped the 358.7 million estimate. Still, Snap’s average revenue per user slid 11% to $3.11, missing the $3.19 average analyst projection.</p><p>Users in a key market, the US, spent 5% less time watching content than in the same quarter of last year. American Snapchatters aren’t viewing as many Stories posted by friends, the company said. That trend could concern advertisers.</p><p>“Facing an economic downturn, marketing teams are feeling the pressure to prove the ROI of every single line item on their media plans, and they’re going to consolidate spend to fewer, stronger channels and partners as a result,” Kelsey Chickering, an analyst at Forrester, said in an email. “Unfortunately for Snapchat, their share of advertiser budgets will likely shrink further, as marketers shift into the most efficient and proven channels.”</p><p>The company is prioritizing efforts that can boost revenue. In the third quarter, Snap grew its nascent subscription service, Snapchat+, to 1.5 million users who pay for early access to exclusive or pre-release features, Snap said Thursday. The app maker has also been investing in improving measurement tools for ads on its platform.</p><p>Snap posted a net loss of $360 million in the quarter, or 22 cents per share. The loss includes $155 million in restructuring costs. The board also authorized a $500 million share repurchase plan for its Class A stock over the next 12 months, Snap said.</p><p>Investors were watching Santa Monica, California-based Snap for clues on the performance of other advertising-dependent social media businesses. Next week, Meta Platforms Inc. and Alphabet Inc. report earnings.</p><p>Snap and platforms like Meta’s Facebook and Alphabet’s Google are competing for a shrinking pool of advertising dollars this year. Spiraling inflation is putting pressure on companies and consumer spending. Meanwhile, new rules from Apple Inc. that require all apps to get smartphone users’ permission to be tracked online have made it more difficult for advertisers to measure and manage their ad campaigns.</p><p>Shares of Meta, Alphabet and Pinterest Inc., another advertising reliant site, all fell in after-market trading following Snap’s report.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Snap Plunges 27% on Slowest Sales Growth as Advertisers Retreat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSnap Plunges 27% on Slowest Sales Growth as Advertisers Retreat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-21 07:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2277241712","content_text":"Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, saying that a decline in advertising spending continues to drag on results. Shares plunged more than 27% in late trading.The maker of the Snapchat app said third-quarter sales increased 6% to $1.13 billion. That was just shy of analysts’ average estimate of $1.14 billion, according to projections compiled by Bloomberg.The social media company spent the quarter shrinking and refocusing its business, announcing in August that it was cutting 20% of its workforce and slashing projects that don’t contribute to user or revenue growth, or to the company’s augmented reality efforts. The changes were in response to plunging sales, which Snap attributed to a slowdown in marketer spending.Revenue growth “continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds, and increased competition,” Snap said in its prepared remarks for investors. “We are finding that our advertising partners across many industries are decreasing their marketing budgets, especially in the face of operating environment headwinds, inflation-driven cost pressures, and rising costs of capital.”Snap stock, which closed at $10.79 per share, dropped as low as $7.78 in extended trading. The shares have fallen 77% this year.The Snapchat app, popular with young people for sending disappearing messages and augmenting videos with special effects, reported a total of 363 million daily active users in the quarter, up 57 million from a year earlier. That topped the 358.7 million estimate. Still, Snap’s average revenue per user slid 11% to $3.11, missing the $3.19 average analyst projection.Users in a key market, the US, spent 5% less time watching content than in the same quarter of last year. American Snapchatters aren’t viewing as many Stories posted by friends, the company said. That trend could concern advertisers.“Facing an economic downturn, marketing teams are feeling the pressure to prove the ROI of every single line item on their media plans, and they’re going to consolidate spend to fewer, stronger channels and partners as a result,” Kelsey Chickering, an analyst at Forrester, said in an email. “Unfortunately for Snapchat, their share of advertiser budgets will likely shrink further, as marketers shift into the most efficient and proven channels.”The company is prioritizing efforts that can boost revenue. In the third quarter, Snap grew its nascent subscription service, Snapchat+, to 1.5 million users who pay for early access to exclusive or pre-release features, Snap said Thursday. The app maker has also been investing in improving measurement tools for ads on its platform.Snap posted a net loss of $360 million in the quarter, or 22 cents per share. The loss includes $155 million in restructuring costs. The board also authorized a $500 million share repurchase plan for its Class A stock over the next 12 months, Snap said.Investors were watching Santa Monica, California-based Snap for clues on the performance of other advertising-dependent social media businesses. Next week, Meta Platforms Inc. and Alphabet Inc. report earnings.Snap and platforms like Meta’s Facebook and Alphabet’s Google are competing for a shrinking pool of advertising dollars this year. Spiraling inflation is putting pressure on companies and consumer spending. Meanwhile, new rules from Apple Inc. that require all apps to get smartphone users’ permission to be tracked online have made it more difficult for advertisers to measure and manage their ad campaigns.Shares of Meta, Alphabet and Pinterest Inc., another advertising reliant site, all fell in after-market trading following Snap’s report.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":104445619,"gmtCreate":1666327452602,"gmtModify":1666327456128,"authorId":3575368380492738,"author":{"id":3575368380492738,"idStr":"3575368380492738","authorId":3575368380492738,"name":"XiaTian","avatar":"https://community-static.tradeup.com/news/71777f1a5ae276e73064272b5ae7df92","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 100","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"80.66%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":3,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9983742109,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Ok</span>","text":"<span class=\"s1\">Ok</span>","html":"<span class=\"s1\">Ok</span>"}],"langContent":"EN"},{"id":9983742318,"gmtCreate":1666327438535,"gmtModify":1676537742132,"author":{"id":"3575368380492738","authorId":"3575368380492738","name":"XiaTian","avatar":"https://community-static.tradeup.com/news/71777f1a5ae276e73064272b5ae7df92","vip":1,"crmLevel":3,"crmLevelSwitch":1,"idStr":"3575368380492738","authorIdStr":"3575368380492738"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9983742318","repostId":2277241712,"repostType":4,"repost":{"id":"2277241712","kind":"highlight","pubTimestamp":1666306964,"share":"https://ttm.financial/m/news/2277241712?lang=&edition=fundamental","pubTime":"2022-10-21 07:02","market":"us","language":"en","title":"Snap Plunges 27% on Slowest Sales Growth as Advertisers Retreat","url":"https://stock-news.laohu8.com/highlight/detail?id=2277241712","media":"Bloomberg","summary":"Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- $Snap Inc(SNAP)$.reported its slowest quarterly sales growth ","content":"<html><head></head><body><ul><li>Company says US users are spending less time on Snapchat video</li><li>Snap has cut workforce to focus on revenue-generating projects</li></ul><p>(Bloomberg) -- <a href=\"https://laohu8.com/S/SNAP\">Snap Inc</a>. reported its slowest quarterly sales growth ever, saying that a decline in advertising spending continues to drag on results. Shares plunged more than 27% in late trading.</p><p><img src=\"https://static.tigerbbs.com/022f95681d884baac75ec100c7b32f35\" tg-width=\"866\" tg-height=\"673\" width=\"100%\" height=\"auto\"/>The maker of the Snapchat app said third-quarter sales increased 6% to $1.13 billion. That was just shy of analysts’ average estimate of $1.14 billion, according to projections compiled by Bloomberg.</p><p>The social media company spent the quarter shrinking and refocusing its business, announcing in August that it was cutting 20% of its workforce and slashing projects that don’t contribute to user or revenue growth, or to the company’s augmented reality efforts. The changes were in response to plunging sales, which Snap attributed to a slowdown in marketer spending.</p><p>Revenue growth “continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds, and increased competition,” Snap said in its prepared remarks for investors. “We are finding that our advertising partners across many industries are decreasing their marketing budgets, especially in the face of operating environment headwinds, inflation-driven cost pressures, and rising costs of capital.”</p><p>Snap stock, which closed at $10.79 per share, dropped as low as $7.78 in extended trading. The shares have fallen 77% this year.</p><p>The Snapchat app, popular with young people for sending disappearing messages and augmenting videos with special effects, reported a total of 363 million daily active users in the quarter, up 57 million from a year earlier. That topped the 358.7 million estimate. Still, Snap’s average revenue per user slid 11% to $3.11, missing the $3.19 average analyst projection.</p><p>Users in a key market, the US, spent 5% less time watching content than in the same quarter of last year. American Snapchatters aren’t viewing as many Stories posted by friends, the company said. That trend could concern advertisers.</p><p>“Facing an economic downturn, marketing teams are feeling the pressure to prove the ROI of every single line item on their media plans, and they’re going to consolidate spend to fewer, stronger channels and partners as a result,” Kelsey Chickering, an analyst at Forrester, said in an email. “Unfortunately for Snapchat, their share of advertiser budgets will likely shrink further, as marketers shift into the most efficient and proven channels.”</p><p>The company is prioritizing efforts that can boost revenue. In the third quarter, Snap grew its nascent subscription service, Snapchat+, to 1.5 million users who pay for early access to exclusive or pre-release features, Snap said Thursday. The app maker has also been investing in improving measurement tools for ads on its platform.</p><p>Snap posted a net loss of $360 million in the quarter, or 22 cents per share. The loss includes $155 million in restructuring costs. The board also authorized a $500 million share repurchase plan for its Class A stock over the next 12 months, Snap said.</p><p>Investors were watching Santa Monica, California-based Snap for clues on the performance of other advertising-dependent social media businesses. Next week, Meta Platforms Inc. and Alphabet Inc. report earnings.</p><p>Snap and platforms like Meta’s Facebook and Alphabet’s Google are competing for a shrinking pool of advertising dollars this year. Spiraling inflation is putting pressure on companies and consumer spending. Meanwhile, new rules from Apple Inc. that require all apps to get smartphone users’ permission to be tracked online have made it more difficult for advertisers to measure and manage their ad campaigns.</p><p>Shares of Meta, Alphabet and Pinterest Inc., another advertising reliant site, all fell in after-market trading following Snap’s report.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Snap Plunges 27% on Slowest Sales Growth as Advertisers Retreat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSnap Plunges 27% on Slowest Sales Growth as Advertisers Retreat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-21 07:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2022-10-20/snap-falls-on-slow-sales-growth-as-advertisers-pull-back","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2277241712","content_text":"Company says US users are spending less time on Snapchat videoSnap has cut workforce to focus on revenue-generating projects(Bloomberg) -- Snap Inc. reported its slowest quarterly sales growth ever, saying that a decline in advertising spending continues to drag on results. Shares plunged more than 27% in late trading.The maker of the Snapchat app said third-quarter sales increased 6% to $1.13 billion. That was just shy of analysts’ average estimate of $1.14 billion, according to projections compiled by Bloomberg.The social media company spent the quarter shrinking and refocusing its business, announcing in August that it was cutting 20% of its workforce and slashing projects that don’t contribute to user or revenue growth, or to the company’s augmented reality efforts. The changes were in response to plunging sales, which Snap attributed to a slowdown in marketer spending.Revenue growth “continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds, and increased competition,” Snap said in its prepared remarks for investors. “We are finding that our advertising partners across many industries are decreasing their marketing budgets, especially in the face of operating environment headwinds, inflation-driven cost pressures, and rising costs of capital.”Snap stock, which closed at $10.79 per share, dropped as low as $7.78 in extended trading. The shares have fallen 77% this year.The Snapchat app, popular with young people for sending disappearing messages and augmenting videos with special effects, reported a total of 363 million daily active users in the quarter, up 57 million from a year earlier. That topped the 358.7 million estimate. Still, Snap’s average revenue per user slid 11% to $3.11, missing the $3.19 average analyst projection.Users in a key market, the US, spent 5% less time watching content than in the same quarter of last year. American Snapchatters aren’t viewing as many Stories posted by friends, the company said. That trend could concern advertisers.“Facing an economic downturn, marketing teams are feeling the pressure to prove the ROI of every single line item on their media plans, and they’re going to consolidate spend to fewer, stronger channels and partners as a result,” Kelsey Chickering, an analyst at Forrester, said in an email. “Unfortunately for Snapchat, their share of advertiser budgets will likely shrink further, as marketers shift into the most efficient and proven channels.”The company is prioritizing efforts that can boost revenue. In the third quarter, Snap grew its nascent subscription service, Snapchat+, to 1.5 million users who pay for early access to exclusive or pre-release features, Snap said Thursday. The app maker has also been investing in improving measurement tools for ads on its platform.Snap posted a net loss of $360 million in the quarter, or 22 cents per share. The loss includes $155 million in restructuring costs. The board also authorized a $500 million share repurchase plan for its Class A stock over the next 12 months, Snap said.Investors were watching Santa Monica, California-based Snap for clues on the performance of other advertising-dependent social media businesses. Next week, Meta Platforms Inc. and Alphabet Inc. report earnings.Snap and platforms like Meta’s Facebook and Alphabet’s Google are competing for a shrinking pool of advertising dollars this year. Spiraling inflation is putting pressure on companies and consumer spending. Meanwhile, new rules from Apple Inc. that require all apps to get smartphone users’ permission to be tracked online have made it more difficult for advertisers to measure and manage their ad campaigns.Shares of Meta, Alphabet and Pinterest Inc., another advertising reliant site, all fell in after-market trading following Snap’s report.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":548,"commentSize":92,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2277241712"}