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☆ The advertising winter may finally be starting to thaw
▼ + stars: | 2023-07-27 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

The long advertising winter could be coming to an end in the second half of this year. There are tentative signs that the advertising winter is starting to thaw. Meta, which derives more than 98% of its revenue from advertising, reported revenue well ahead of analysts' estimates for the second quarter. To be sure, some pure-play advertising companies remain challenged. Indeed, on Thursday, the US Commerce Department said the US economy grew by 2.4% in the second quarter, which was up from 2% in the first quarter.

Persons: spenders, Kimberly, Clark, Brian Wieser, Groupe, IPG, Arthur Sadoun, It's, they're Organizations: Companies, Meta, Google, PepsiCo, Wall, Tech, Microsoft, US Commerce Department Locations: Madison

☆ Snap stock drops 19% on weak forecast
▼ + stars: | 2023-07-26 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Snap shares plunged at the start of trading, falling 19% as analysts and investors recoiled from a weaker-than-expected forecast for the current period. Overall sales declined 4% year-over-year, with a slightly-than-expected lower-end total sales forecast for the third quarter. The broader social media industry has become "harder" to forecast in, CEO Evan Spiegel said in an interview with CNBC's Julia Boorstin on Wednesday. Morgan Stanley maintained a $6.5 price target and an underweight rating on the social media stock. Bank of America analyst Justin Post reiterated a neutral rating and an $11 price target.

Persons: Evan Spiegel, CNBC's Julia Boorstin, Morgan Stanley, Brian Nowak, Nowak, Justin Post, CNBC's Michael Bloom Organizations: Viva Technology, Bank of America, Online Locations: Paris, North America

☆ Meta to report second-quarter earnings after the bell
▼ + stars: | 2023-07-26 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

Meta will report second-quarter earnings after market close on Wednesday. Here are the key numbers to watch:Earnings: $2.91 per share expected, according to Refinitiv$2.91 per share expected, according to Refinitiv Revenue: $31.12 billion expected, according to Refinitiv$31.12 billion expected, according to Refinitiv Daily Active Users (DAUs): 2.04 billion expected, according to StreetAccount. 2.04 billion expected, according to StreetAccount. Monthly Active Users (MAUs): 3 billion expected, according to StreetAccount. 3 billion expected, according to StreetAccount.

Persons: Mark Zuckerberg, Meta, Mark, Meta's, William Blair, Brad Erickson Organizations: Meta, Inc, Refinitiv Revenue, RBC Capital Markets, CNBC, Company Locations: San Jose , California, Ukraine

☆ Snap's advertising technology 'just isn't there', says Big Technology's Alex Kantrowitz
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSnap's advertising technology 'just isn't there', says Big Technology's Alex KantrowitzAlex Kantrowitz, ‘Big Technology’ founder, joins 'Squawk Box' to discuss shares of Snap plunging following disappointing Q3 sales forecast, social media's ad spend, the digital advertising market at large, and more.

Persons: Big, Alex Kantrowitz Alex Kantrowitz Organizations: Technology

☆ Facebook's ad rebound gives Meta CEO Mark Zuckerberg freedom to pursue far-out bets
▼ + stars: | 2023-07-26 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +4 min

While Snap's revenue dropped 4% in the second quarter, Meta is solidly growing again, driven by Facebook's ad business. Neither Zuckerberg nor Spiegel have plans to cut back on spending money on experimental projects. Meta is burning billions of dollars a quarter on the futuristic metaverse , and Snap is pouring cash into augmented reality products and services. Meta CEO Mark Zuckerberg is once again a fan favorite on Wall Street. And while Meta has seemingly fixed most of its ad problems, Snap is still struggling.

Persons: Mark Zuckerberg, Zuckerberg, Spiegel, Evan Spiegel, Susan Li, Li, —, Snap's, Meta, James Cordwell, Cordwell Organizations: Meta, Labs, Apple, Google, Facebook, Atlantic Locations: San Jose , California, U.S, Ukraine

☆ Snap shares tumble after softer Q3 outlook as app revamps ads
▼ + stars: | 2023-07-25 | by ( Sheila Dang | ) www.reuters.com time to read: +2 min

Shares of Snap, which owns the Snapchat app, dropped 16% to $10.50 in after-market trading. The Santa Monica, California-based company said it estimates third quarter revenue will be between $1.07 billion to $1.13 billion. Changes to its platform to adjust advertisements took a toll, but Snap told Wall Street it is seeing benefits now. Daily active users on Snapchat rose 14% year-over-year to 397 million, beating Wall Street expectations of 394.8 million. Snap said it expects between 405 million to 406 million daily active users in the third quarter.

Persons: Sheila Dang, Susan Heavey Organizations: Inc, Facebook, Meta, Revenue, Analysts, Thomson Locations: Santa Monica , California, Dallas

☆ Google points to many ways it can win in A.I. even as online ad market shows cracks
▼ + stars: | 2023-07-25 | by ( Jennifer Elias | ) www.cnbc.com time to read: +4 min

Google's revenue rose 7% to $74.6 billion from $69.7 billion in the year-earlier period, topping analysts' estimates. Google's ad revenue only increased 3.3% from a year earlier, but that's an improvement from the first quarter, when ad revenue fell. Search revenue, which makes up the majority of Google's ad business, also saw steady growth. AI companies are flocking to Google's cloud technology so they can run the compute-heavy projects that are only available in a few places. Google's cloud business, which turned profitable in the first quarter, saw revenue increase 28% in the second quarter to $8 billion, topping analysts' estimates.

Persons: Snap's, Michael Nathanson, Moffett Nathanson, Bing, Sundar Pichai, Pichai, we'd, Dan Ives Organizations: Microsoft, Google, Amazon Web Services Locations: OpenAI

☆ Snap shares plunge more than 16% on weak forecast
▼ + stars: | 2023-07-25 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +4 min

Here's how the company did:Loss per share : 2 cent loss vs. 4 cent loss expected by analysts, according to Refinitiv. : $1.07 billion vs. $1.05 billion expected, according to Refinitiv. Global Daily Active Users (DAUs) : 397 million vs. 394.9 million expected, according to StreetAccount. : 397 million vs. 394.9 million expected, according to StreetAccount. Last quarter, Snap did not provide official guidance for the second quarter, instead disclosing an "internal forecast" for revenue estimates in the time period.

Persons: Evan Spiegel, Porte, William Blair, Susan Li Organizations: Snap Inc, Viva Technology, Porte de, Analysts, Meta Locations: Paris, France, Refinitiv

☆ MLB All-Star Game, baseball cards, are first big test of Fanatics livestream shopping experience
▼ + stars: | 2023-07-10 | by ( Ian Thomas | ) www.cnbc.com time to read: +5 min

(Photo by Justin Berl/Getty Images)Fanatics' first livestream shopping event will feature collectors opening baseball trading card packs on the field during this week's Major League Baseball All-Star Game events in Seattle. The sports platform's new business division, which is called Fanatics Live, is centered around live shopping experiences during which users will be able to buy trading cards and other collectibles on the Fanatics Live app while watching streams of hosts and other collector sellers. "Our intention is to have Fanatics Live be the leader in the live commerce space," Bell said. Livestream shopping, which got its start in China and across Asia, has grown into a $512 billion market, according to Coresight Research. Bell acknowledged the challenges for livestream shopping in the U.S. but said he sees them as an opportunity.

Persons: Justin Berl, Nick Bell, Bell, — Bell, —, Chris Lamontagne, Scott Rogowski, Michael Rubin, – Bell Organizations: Pittsburgh Pirates, Milwaukee Brewers, PNC Park, Major League Baseball, Google, Mobile, Research, eBay, Facebook, QVC, U.S, Meta, CNBC Disruptor Locations: Pittsburgh , Pennsylvania, Seattle, U.S, China, Asia

☆ SNAP could close the food insecurity gap between Black and white households, study finds. But researchers say there's so much more that could be done.
▼ + stars: | 2023-06-30 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

A new study shows that access to SNAP benefits reduces the racial gap in food insecurity. Black and multiracial households have had higher food insecurity rates than white households over the last 20 years. While Black households had 20% higher food insecurity rates, they were 46% more likely to participate in SNAP than white households. For those not enrolled in SNAP, Black and multiracial households respectively had a 52% and 42% higher risk of food insecurity than white households. When accounting for household characteristics, Black households enrolled in SNAP had a lower rate of food insecurity than white households.

Persons: —, Laura Samuel, Samuel, that's, Gina Plata, Heather Taylor, ., Nino Organizations: SNAP, Service, Black, Nutrition, Johns Hopkins University, Johns Hopkins School of Nursing, Social, Nino, Food Research, Action Center Locations: . Plata, Plata

☆ A new type of creator is taking over Snapchat: Giving fans constant access to their lives, posting hundreds of times a day, and raking in cash
▼ + stars: | 2023-06-29 | by ( Marta Biino | Dan Whateley | Amanda Perelli | ) www.businessinsider.com time to read: +6 min

"Even if it's a day where I'm super tired and I'm not doing anything, I'll be like, 'Guys, I am doing nothing all day. Compared to YouTube videos, or even content for short-video platforms like TikTok, Snapchat stories require less effort to produce. "The privacy thing is kind of something you take with being a content creator," Leilani Green, a beauty and makeup creator with 845,000 subscribers on Snapchat, told Insider. Rick Lox, a food creator with around 215,000 Snapchat subscribers, said he sets dedicated times in the morning, afternoon, and evening to upload stories. TikTok and YouTube's attempts at sharing in-stream ad revenue with creators for short videos has produced measly payouts thus far.

Persons: Snapchat, Influencer Alyssa McKay, I'm, McKay, she's, Truman, Eloise Head, —, Alyssa McKay, Jacques Slade, Dave Roter, Noam Galai, Rick, Francis Roberts, " Roberts, YouTuber David Dobrik, Brandom Baum, monetization, Matthew, that's, it's, Jim Louderback Organizations: Inc, Snap's, YouTube Locations: Snapchat, New York

"Even if it's a day where I'm super tired and I'm not doing anything, I'll be like, 'Guys, I am doing nothing all day. Compared to YouTube videos, or even content for short-video platforms like TikTok, Snapchat stories require less effort to produce. "The privacy thing is kind of something you take with being a content creator," Leilani Green, a beauty and makeup creator with 845,000 subscribers on Snapchat, told Insider. Snapchat may be incentivizing creators to broadcast every minute of their lives, which isn't for everyone. TikTok and YouTube's attempts at sharing in-stream ad revenue with creators for short videos has produced measly payouts thus far.

☆ Meta vs. Alphabet: Wall Street favors one over the other. Our view is not so black and white
▼ + stars: | 2023-06-27 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Wall Street analysts continued to favor Meta Platforms (META) over Alphabet (GOOGL), sending shares of META up more than 3% and GOOGL shares just slightly higher Tuesday. Analysts at both firms expressed concern over how the implementation of generative AI might hurt search-related ad revenues and boost expenses. That said, Bernstein and UBS both also acknowledge that longer-term generative AI may very well prove a tailwind for Alphabet. META YTD mountain Meta Platforms YTD performance Meta Platforms, meanwhile, has been getting better reviews. Bottom line Both Meta and Alphabet are likely to benefit from generative AI in the long-term — even if Meta has more clearcut benefits in the near term.

Persons: Bernstein, Bard, MAUs, Instagram, chatbots, Meta, Jim Cramer's, Jim Cramer, Jim, Beata Zawrzel Organizations: Street, UBS, Citi, Google, Meta, Cannes Lions, Creativity, Instagram, CNBC, Nurphoto, Getty Locations: —

☆ Cramer's Lightning Round: "Not a fan" of Snap
▼ + stars: | 2023-06-21 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon BWX Technologies' year-to-date stock performance. Stock Chart Icon Stock chart icon British American Tobacco's year-to-date stock performance. Stock Chart Icon Stock chart icon Snap's year-to-date stock performance. Stock Chart Icon Stock chart icon Myriad Genetics' year-to-date stock performance. Stock Chart Icon Stock chart icon Meta's year-to-date stock performance.

Persons: I've, Philip Morris, It's, I'm, it's, Jim Cramer's Organizations: Technologies, BWX Technologies, Tobacco, Devices, Nvidia, Myriad Genetics, Myriad

☆ Snap CEO: More people want to communicate with A.I. as much as they do with their friends and family
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSnap CEO: More people want to communicate with A.I. as much as they do with their friends and familyEvan Spiegel, Snap founder and CEO, joins 'Squawk Box' to discuss the growth of A.I. on Snap's subscription and advertising business platform, if A.I. will be a real driver of revenue and profits, and more.

Persons: Evan Spiegel

☆ Snap loses 'respected' monetization leader to Uber amid broader executive shakeup
▼ + stars: | 2023-06-20 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

He is now vice president of engineering at Uber. Panda reported to Nima Khajehnouri, Snap's vice president of engineering, who has been at the company since 2015. Snap, however, recently hired Eric Young as its new senior vice president of engineering, with Khajehnouri now reporting to him. He joined Greylock earlier this year after being at Snap also since 2015 as its senior vice president of product and growth. Along with Patrick Harris in a newly created role as Snap's senior vice president of partnerships, and David Sommer as head of verticals.

Persons: Panda, Snapchat, Nima Khajehnouri, Khajehnouri, Jerry Hunter, Eric Young, Young, Hunter, Jacob Andreou, Peter Sellis, Darshan Kantak, Rob Wilk, Patrick Harris, David Sommer, Kali Hays Organizations: Uber, Google, Reuters, . Workers, Greylock, Microsoft, Meta, Facebook, Twitter Locations: khays

☆ Here are Thursday's biggest analyst calls: Nvidia, Tesla, Chipotle, Chevron, Netflix, Meta, Target and more
▼ + stars: | 2023-06-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Bernstein reiterates Target as outperform Bernstein said investors should buy the weakness in Target shares. UBS reiterates Chipotle as buy UBS said the Mexican chain is "well positioned w/ drivers to support transaction and sales growth." RBC reiterates Tesla as outperform RBC raised its price target to $305 per share from $212 and said it's bullish on Tesla's autonomy future. " TD Cowen reiterates Netflix as outperform TD Cowen raised its price target on the stock to $500 per share from $440 and says it's well-positioned. UBS reiterates Chevron as buy UBS said it sees "balance sheet strength & dividend growth" for Chevron.

Persons: Evercore, it's bullish, Emerson, Bernstein, Mizuho, Coinbase, Moody's, Guggenheim, McDonald's, Chipotle, Morgan Stanley, Goldman Sachs, Goldman, Wells, Wells Fargo, Tesla, it's, Oppenheimer, SoFi, Uber, Jefferies, TD Cowen, NFLX, Cowen, Stifel Organizations: ISI, Energy & Materials, Livent, HSBC, Emerson, " Bank of America, P, Bank of America, Citi, American Express Citi, American, Citi Credit Card, Travel & Entertainment, RBC, Nvidia, UBS, Mobile, Diageo, Spirits, Deutsche Bank, JPMorgan, Microsoft, Netflix, Corning, Chevron, Meta, DR Locations: Mexican, Allegiant, Edgewater

☆ Instagram and Facebook are reeling in TikTok
▼ + stars: | 2023-06-08 | by ( Alistair Barr | ) www.businessinsider.com time to read: +2 min

TikTok has been growing like a weed for years, but it's 'flattening' now, Morgan Stanley found. Reels is being used a lot more by Instagram and Facebook users. TikTok has grown like a weed for years, prompting Meta CEO Mark Zuckerberg to pull another clone out of this social-media bag. That service, known as Reels, is beginning to make headway against TikTok, according to a new survey by Morgan Stanley. "This flattening of TikTok adoption as other platforms rise is notable," the Morgan Stanley analysts wrote in a note to investors.

Persons: TikTok, Morgan Stanley, Mark Zuckerberg, Zuckerberg Organizations: Facebook, TikTok, Meta

☆ EU's Breton demands Meta act against online content targeting children
▼ + stars: | 2023-06-08 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, June 8 (Reuters) - EU industry chief Thierry Breton will meet Meta Platforms (META.O) Chief Executive Mark Zuckerberg on June 23 and demand that he act immediately to tackle content targeting children, as Meta's voluntary child protection code seemed not to be working. Social media platforms such as Meta's Instagram, ByteDance's TikTok, Snap's (SNAP.N) Snapchat and Alphabet's (GOOGL.O) YouTube have stirred concerns among regulators and users over content targeted at young children. "#Meta’s voluntary code on child protection seems not to work," Breton said in a Twitter post. Breton said Meta would also have to demonstrate the measures it plans to take to comply with European Union online content rules known as the Digital Services Act (DSA) after Aug. 25 or face heavy sanctions. The DSA bans certain types of targeted advertisements on online platforms such as those meant for children or when they use special categories of personal data, such as ethnicity, political views and sexual orientation.

Persons: Thierry Breton, Mark Zuckerberg, ByteDance's, Breton, Meta, Foo Yun Chee, Mark Heinrich Our Organizations: Meta, YouTube, EU, Reuters, Meta's, European Union, Digital Services, DSA, Thomson Locations: BRUSSELS, Menlo Park, California

☆ The debt ceiling deal could lead to 750,000 older Americans losing SNAP benefits
▼ + stars: | 2023-06-07 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

The debt ceiling deal could lead nearly 750,000 adults to lose their Supplemental Nutrition Assistance Program, or SNAP, benefits. SNAP benefits, or food stamps, give monthly funds to low-income individuals and families for food purchases. CBPP noted that high denial rates and long wait times for receipt of disability benefits has made accessing SNAP benefits increasingly difficult. CBPP research noted that the existing work-reporting requirement does not increase employment or earnings but do lead thousands to lose their food benefits. Are you an older American who relies on SNAP benefits and who could be affected by this change?

Persons: —, CBPP, Kevin McCarthy, Joe Biden, Cori Bush, Ed Bolen Organizations: Assistance, SNAP, Service, Budget, Congressional, Office, Democratic, CNBC, American Economic Association Locations: Missouri

☆ Snap hires new head of engineering from Google
▼ + stars: | 2023-06-05 | by ( Sheila Dang | ) www.reuters.com time to read: +1 min

June 5 (Reuters) - Snap Inc (SNAP.N) said on Monday it hired a new senior vice president of engineering from Google, the latest in a string of new recruits to advance its advertising business. Eric Young, who was previously vice president of engineering for Alphabet Inc's (GOOGL.O) Google Cloud, will oversee the core infrastructure for Snap, which owns the popular photo messaging app Snapchat. While Snap has consistently expanded its audience for Snapchat, which now has 750 million monthly users, the company has struggled to generate revenue at the same pace. While at Google, Young worked on building the tech infrastructure for products like search, ads and YouTube. His appointment at Snap comes after the company hired Rob Wilk, former head of advertising at Microsoft Corp (MSFT.O), to become president of the Americas region, as well as another Google executive to lead revenue product.

Persons: Eric Young, Young, Rob Wilk, Sheila Dang, Matthew Lewis Organizations: Google, YouTube, Microsoft Corp, Thomson Locations: Americas, Dallas

Eligibility requirements for the Supplemental Nutrition Assistance Program (SNAP) became a lightning rod in negotiations of the debt deal. The debt plan passed by the House of Representatives on Wednesday and by the Senate on Thursday contains work requirements to get food benefits. It would also expand those work requirements to adults aged 50 to 54, a group that had previously been exempted. Republicans argued during negotiations that expanding work requirements would help more SNAP recipients get jobs and reduce their dependence on federal aid. Some progressive lawmakers cited the work requirement issue as their reason for not supporting the debt deal.

Persons: Ty Jones Cox, Ellen Vollinger, Kevin McCarthy, Kofi Kenyatta, Colleen Young, Young, Leah Douglas, David Gregorio, Tom Hogue Organizations: Congress, Supplemental, Assistance, Food, Budget, Democrats, Republicans, SNAP, Veterans, Food Research, Action, Congressional, Office, Greater, Greater Pittsburgh Community Food Bank, Thomson Locations: UpTogether, Greater Pittsburgh

☆ A millennial who tests out side hustles explains what actually makes money quickly and which ones you should skip
▼ + stars: | 2023-05-07 | by ( Madison Hoff | ) www.businessinsider.com time to read: +9 min

He doesn't recommend trying to start a YouTube channel or voice work if you're looking to make money quickly. Under his handle @sidehustlereview, he tells 100,000 TikTok followers what he learns, including what makes money, and the time involved. My For You page is just side hustle after side hustle," Ryan told Insider. In addition to UGC, the other top side hustles Ryan recommends are hauling junk and being a virtual assistant. "I get so many personal messages saying they are so thankful that I'm trying these things and letting them know the truth and that really makes me feel good," Ryan said.

☆ Snapchat's vision of the future has dystopian vibes
▼ + stars: | 2023-05-04 | by ( Dan Whateley | ) www.businessinsider.com time to read: +3 min

Snap executives took the stage on Tuesday to pitch its social app to brands and ad agencies. The company said Snapchat was one of the last places for real and authentic relationships. But in highlighting one-way relationships with influencers and AI, its pitch felt dystopian. Snapchat is the one of the last places for "authentic" and "real" relationships, and therefore, a great place for brands to sell products, the company said. "We created a space for people to truly be themselves, and all along we've been building for a future that is grounded in reality."

☆ Snapchat just launched 'Creator Collab,' a new marketplace for top influencers to work with brands. Here's how it works.
▼ + stars: | 2023-05-03 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +2 min

Snapchat has introduced Collab Studio to help top influencers on the platform connect with brands. Snap is offering a new way for influencers to connect with brands to create sponsored content. Snapchat has become a creator favorite lately — its parent company Snap boasts of over 750 million monthly users on the app, most of whom open it almost 40 times a day. Snap's new Collab Studio offers brands the ability to work with four initial partners — Whalar, Beeline by Brat TV, Influential, and Studio71 — to produce video content. With thousands of creators on the platform, Collab Studio also helps companies identify the best talent for their campaigns, execute contracts, and track deliverables.

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