Shares of Facebook parent Meta Platforms and other social media stocks tumbled in premarket trading Friday after Snap reported slower growth in the second quarter, leading to larger worries about online advertising. Snap (ticker: SNAP), the parent of Snapchat, reported that revenue rose 13% in the second quarter from a year earlier to $1.11 billion. Snap, however, did say that third-quarter revenue was “approximately flat.” Read More...
Shares of Facebook parent Meta Platforms and other social media stocks tumbled in premarket trading Friday after Snap reported slower growth in the second quarter, leading to larger worries about online advertising. Snap (ticker: SNAP), the parent of Snapchat, reported that revenue rose 13% in the second quarter from a year earlier to $1.11 billion. Snap, however, did say that third-quarter revenue was “approximately flat.”
