Internet ad names dip in wake of Snap's bad report

Jul. 21, 2022 4:55 PM ETMeta Platforms, Inc. (META), GOOG, TWTR, PINSGOOGL, SNAPBy: Jason Aycock, SA News Editor62 Comments

Investment And Finance Concept - Yellow Down Arrows Over Blue Financial Graph Background

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  • Advertising-focused social media names are falling after hours alongside a disappointing report from Snap (SNAP), just as they did when Snap's dire economic warning earlier this year suggested it would fall short of revenue expectations.
  • Snap (SNAP) is down 25.4% as of 4:50 p.m. Meta Platforms (NASDAQ:META), a fellow ad-focused online power, is down 5.1% postmarket. Meta's "ad duopoly" counterpart Alphabet is down not quite as much: (NASDAQ:GOOG) -2.4%; (GOOGL) -2.9%.
  • Twitter (NYSE:TWTR), also no stranger to stock slides this year, is down 1.5% after hours. And Pinterest (NYSE:PINS) is 6.7% lower.
  • Snap (SNAP) is set to start its earnings conference call at 5 p.m. ET.

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