Snap sinks as ad glitch, fierce competition stall growth
Snap shares plummeted nearly 17 per cent in premarket trading on Wednesday as a weak quarter and mounting competition underscored the company's struggle to keep pace with AI-driven peers. Advertisers have been curtailing marketing budgets amid economic uncertainty and leaning toward bigger platforms like TikTok and Meta's Facebook and Instagram. That, and a glitch in Snap's ad-buying platform that resulted in ads being delivered at discounted rates contributed to quarterly revenue growth
din zilele anterioare