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Alphabet

Big tech ad revenue growth to taper as pandemic bubble pops -analyst

May 26 (Reuters) - After unprecedented revenue growth last year, digital platforms including Alphabet Inc (GOOGL.O), Meta Platforms Inc (FB.O), Snap Inc (SNAP.N) and Twitter Inc (TWTR.N) now face a sobering reality as pandemic-driven advertising trends dissipate, according to an analyst report on Thursday. Research firm MoffettNathanson cut its 2025...
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International Business Times

Wall St Plunges As Snap's Bleak Forecast Sparks Selloff

Wall Street's main indexes fell on Tuesday, with the tech-heavy Nasdaq leading the slump, as a weak earnings forecast from Snapchat-owner Snap Inc added to nerves about an inflation-struck economy. Snap Inc plummeted 39.7%, dragging down several social media and internet stocks, after the company slashed its second-quarter earnings forecast...
BUSINESS
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RELATED PEOPLE

Amazon.com faces record challenges at shareholder meeting

LONDON/BOSTON, May 25 (Reuters) - Amazon.com Inc faces 14 investor resolutions challenging its policies at its annual shareholder meeting on Wednesday, a record for the retail and cloud computing giant, as socially minded investors scrutinize its treatment of workers. The increase in the number of resolutions underscores the rise of...
BUSINESS

U.S. automated electric truck startup Solo AVT picks battery supplier ABS

(Reuters) - Silicon Valley startup Solo Advanced Vehicle Technologies has partnered with Michigan-based American Battery Solutions (ABS) to develop battery packs for its new driverless electric heavy-duty truck, Solo AVT’s chief executive told Reuters. “We’re focused on decarbonizing the logistics industry,” CEO and founder Graham Doorley said in an...
BUSINESS

Meta Platforms: Ignore The Snapchat Doom And Gloom

Meta Platforms, Inc. (NASDAQ:FB) fell by 7% on May 24th as fallout from updated guidance by social media peer and competitor, Snap Inc. (SNAP), the maker of the "Snapchat" social media platform. The company warned that its Q2 revenue and EBITDA were trending below target. The implication is that SNAP may be highlighting the underlying weakness in the sector with Meta Platforms brands like "Facebook" and "Instagram" likely facing similar trends. The narrative was enough for SNAP to crash by more than 40% and drag down the entire market with NASDAQ-100 (QQQ) closing 2% lower on the day.
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