Meta to report second-quarter earnings after the bell
Summary
Mark Zuckerberg, chief executive officer of Meta Platforms Inc., left, arrives at federal court in San Jose, California, US, on Tuesday, Dec. 20, 2022. Metas online ad business has been hurt by a confluence of factors, including the ongoing Ukraine war, a shaky economy and the lasting impact of Apples 2021 iOS privacy change. On Tuesday, Snap issued third-quarter guidance that missed analysts expectations, sending the shares down almost 20% in extended trading and underscoring the companys continuing struggle to overcome Apples update. The companys recently released Advantage+ service, for example, is finding increased interest among retailers looking to spend more money on Meta in the hopes that their online advertising campaigns can be more effective. Brad Erickson, an analyst at RBC Capital Markets, told CNBC last week that, based on his recent industry channel checks, small businesses remain concerned about the economy and are generally more reluctant than big companies to increase digital ad spending.
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