Social media stocks plunge following a profit warning from Snapchat parent firm

clock • 3 min read
Social media stocks plunge following a profit warning from Snapchat parent firm
Image:

Social media stocks plunge following a profit warning from Snapchat parent firm

Snap says sales and profitability for the second quarter will be below its previous forecast, sparking a sell-off of online ad-driven stocks

A profit warning from Snapchat's parent company sent its shares crashing over 40% on Tuesday, triggering a sector-wide sell-off as the social media firm signalled tough times ahead for the once-boo...

To continue reading this article...

Join Computing

  • Unlimited access to real-time news, analysis and opinion from the technology industry
  • Receive important and breaking news in our daily newsletter
  • Be the first to hear about our events and awards programmes
  • Join live member only interviews with IT leaders at the ‘IT Lounge’; your chance to ask your burning tech questions and have them answered
  • Access to the Computing Delta hub providing market intelligence and research
  • Receive our members-only newsletter with exclusive opinion pieces from senior IT Leaders

Join now

 

Already a Computing member?

Login

You may also like
Facebook chatbot claims to have a child with 'unique needs and abilities'

Social Networking

Moving fast and breaking things again

clock 19 April 2024 • 3 min read
Meta unveils its latest large language model Llama 3

Artificial Intelligence

Comes in two variants - Llama 3 8B and Llama 3 70B

clock 19 April 2024 • 4 min read
EU watchdog rejects Meta's 'pay for privacy' attempt

Social Networking

Can't charge for data privacy

clock 19 April 2024 • 2 min read

Sign up to our newsletter

The best news, stories, features and photos from the day in one perfectly formed email.

More on Finance

Built world climate tech stands out against VC slump

Built world climate tech stands out against VC slump

The UK is in a strong position for global investment

Penny Horwood
clock 06 December 2023 • 3 min read
HSBC online banking outage hampers Black Friday shopping for thousands

HSBC online banking outage hampers Black Friday shopping for thousands

Many customers complained about the lack of communication from the bank

clock 27 November 2023 • 3 min read
Microsoft owes $29bn in tax, US authorities say

Microsoft owes $29bn in tax, US authorities say

Microsoft says it disagrees with the IRS' latest tax demand

clock 13 October 2023 • 3 min read