Dow Jones futures dropped Friday on a strong January jobs report. Tech titans Alphabet, Amazon and Apple all sold off on earnings. Read More...
Big Tech earnings show digital ads market not out of the woods
After a challenging 2022 in which advertising-dependent companies faced shrinking budgets and cratering stock prices, fourth-quarter results this week from Alphabet, Meta Platforms and Snap showed they were not yet in the clear. The health of the advertising industry closely mirrors the economy, and many advertisers have pared back their marketing budgets in response to record-high inflation rates and continued uncertainty about a recession. Google-owner Alphabet Inc on Thursday reported a slight fall in quarterly ad revenue, missing Wall Street expectations and surprising investors as the world’s largest digital ad platform has traditionally been resilient compared to smaller rivals.