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451 No Bottom for Snap Ad Business

The Information
Isabelle Sarraf @ The Information · 04/27/2023 18:43 EDT

No Bottom for Snap Ad Business

So much for the burst of good tidings about the ad market from Meta Platforms’ first quarter results. Snap results, out Thursday, took up the baton that YouTube’s drooping ad sales left off. Snap told investors that the advertising slump that hammered first-quarter results would extend into the second quarter. Pinterest, meanwhile, forecast a second quarter gain in revenue—but not at the double-digit rate that larger Meta expects. Here’s what stood out from both companies:

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