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☆ Tristan Jarry, Penguins snap Avs' record road win streak
▼ + stars: | 2023-10-27 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/47] Oct 26, 2023; Pittsburgh, Pennsylvania, USA; Colorado Avalanche center Ross Colton (20) stretches on the ice before the game against the Pittsburgh Penguins at PPG Paints Arena. It was Jarry's second shutout of the season, the 15th of his career and his first against the Avalanche. Lars Eller and Sidney Crosby also scored for the Penguins, who are 6-2-0 against Colorado in the past eight meetings. With Georgiev out of position, Smith scored short side to make it 2-0. Off a rebound of a shot by Radim Zohorna, Eller scored on a backhander from the low slot to boost the lead to 3-0.

Persons: Ross Colton, Charles LeClaire, Reilly Smith, Tristan Jarry, Lars Eller, Sidney Crosby, Alexandar Georgiev, Ivan Prosvetov, Smith, Georgiev, Bryan Rust, Evgeni Malkin, Devon Toews, Malkin, Eller, Radim Zohorna, Crosby Organizations: Colorado Avalanche, Pittsburgh Penguins, PPG Paints, Avalanche, Penguins, Colorado, NHL, Thomson Locations: Pittsburgh , Pennsylvania, USA, Pittsburgh, Colorado

☆ Can anyone save the internet? Neal Agarwal is trying, one Hampster Dance at a time.
▼ + stars: | 2023-10-26 | by ( Brian Barrett | ) www.businessinsider.com time to read: +13 min

Internet Artifacts is the latest project from Neal Agarwal, the creative 25-year-old coder who launched neal.fun six years ago today. "I grew up at the tail end of that era of the internet," Agarwal said. Internet Artifacts has taken closer to three months. Internet Artifacts takes several touchstones of the anteplatformian internet and places them on literal digital pedestals. As delightful as Internet Artifacts is to click through, it also provides valuable context for Agarwal's larger ambition.

Persons: Neal Agarwal, Agarwal, antic, Steve Jobs, Jamie Cohen, It's, coders, he'd, —, Bill Gates, Josh Wardle, Neal, neal.fun, Brandon Chilcutt's, Jessa Lingel, Nicole He, Matthew Rayfield, Brian Moore, Wardle, what's, There's, Brian Barrett Organizations: today's, Adobe, Apple, Developers, MySpace, Facebook, Twitter, CUNY, Virginia Tech, Ripley's, The New York Times, Napster, University of Pennsylvania's Annenberg School for Communication, Immaculate Grid, MacWorld, Wired, Yorker Locations: Queens, Fairfax , Virginia, MSCHF, New York

☆ CNBC Daily Open: Meta outperformance
▼ + stars: | 2023-10-26 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

(Photo by Spencer Platt/Getty Images)This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. In its third-quarter earnings report, the Facebook parent said revenue increased 23%, its fastest rate of growth since 2021. Meta is seeing faster growth in its core digital advertising business as clients rebound from a tough 2022. Meta said it expects revenue of $36.5 billion to $40 billion for the fourth quarter.

Persons: Stocks, Spencer Platt, Ford, Mattel, Meta, Mark Zuckerberg’s, Susan Li, —, Jonathan Vanian Organizations: NEW, New York Stock Exchange, Labor Department, Getty, CNBC, Labor, United Auto Workers, IBM, Wall, Google, Meta, Labs, Treasury Locations: New York City, China, Israel

☆ The House is finally back — and it has 3 weeks to prevent a government shutdown and protect some Americans from losing paychecks, food benefits, and housing loans
▼ + stars: | 2023-10-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

After three weeks, the House elected Rep. Mike Johnson to serve as Speaker of the House. Johnson proposed another short-term funding measure to ensure Americans don't lose federal benefits. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementIt took three weeks for congressional Republicans to agree on a new speaker of the House. Johnson on Monday detailed how he plans to structure the House's calendar over the next year, with funding legislation near the top of the agenda.

Persons: Mike Johnson, Johnson, —, Kevin McCarthy, Joe Biden, McCarthy, Tom Vilsack, Biden Organizations: House, Service, GOP Rep, Conference, Federal Aviation Administration, National Flood Insurance, Social, Women Locations: Ukraine, Israel

☆ Meta shares dip following cautious commentary about unrest in the Middle East
▼ + stars: | 2023-10-26 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Shares of Meta initially rose after the report but the gains were erased when Meta's finance chief Susan Li warned analysts about unpredictability in the Middle East. As a result of the conflict in Israel, Meta gave fourth-quarter guidance between $36.5 billion to $40 billion. Meta reported $34.15 billion in revenue for the quarter, up 23%, and the fastest rate of growth since 2021. Evercore analysts said "the BIG negative" from the call was that brand advertising demand has slowed as a result of the war. Despite the slowing brand advertising demand, the Evercore analysts said a lot is "working" at Meta.

Persons: Li, Susan Li, Meta, Mark Zuckerberg, Morgan Stanley Organizations: Meta, Facebook, Paley Center For Media, Deutsche Bank Locations: Israel, New York, Ukraine, Meta

☆ Amazon’s advertising revenue tops $12 billion in the third quarter
▼ + stars: | 2023-10-26 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

(Photo by Joan Cros/NurPhoto via Getty Images)Amazon's online advertising business continues to boom amid growing investor concerns that the Israel-Hamas War could negatively impact the world economy. Analysts polled by StreetAccount were expecting Amazon's advertising business to generate $11.6 billion in third-quarter revenue. Investors closely monitor Amazon's online advertising unit, which now accounts for 7.5% of the global digital ad market, according to Insider Intelligence. Alphabet is still the digital advertiser leader with 28.4% share of the world online ad market, while Meta accounts for 20.1%, the research firm said. Alphabet reported third-quarter earnings this week and said that its Google advertising revenue jumped 9% year-over-year to $59.65 billion while YouTube ad sales rose 12% year-over-year to $7.95 billion.

Persons: Joan Cros, StreetAccount, Meta, Susan Li, Brad Gerstner Organizations: AMD, Amazon Marketing Services, Mobile, Getty, Intelligence, Meta, Facebook, Google, YouTube Locations: BARCELONA, SPAIN, Barcelona, Spain, Israel, Hamas

☆ 'I quit my high-paying tech job': 10 people share what finally drove them away from big tech
▼ + stars: | 2023-10-26 | by ( Aria Yang | ) www.businessinsider.com time to read: +11 min

Some left behind prestigious roles to pursue their passions, while others quit tech due to burnout. Some left behind their glamorous roles to pursue their passions, and some quit tech due to burnout. Read more: I quit my six-figure tech job because I couldn't work abroad. Mayuko Inoue left her tech job due to panic attacksMayuko Inoue is a former iOS software engineer at Patreon and Netflix. In 2022, he left Meta to start Taro, a community to help other engineers achieve similar career success.

Persons: Meta would've, —, Eric Yu, pinky, Yu, Read, Sergio Najera, Najera, I've, Mayuko Inoue, overexerting, Inoue, that's, Michael Lin, Lin, he'd, — he's, Jerry Lee, Lee, Rahul Pandey, Meta, Taro, Pandey, Mitchie Nguyen, Nguyen, Dayana Sabatin, Sabatin, I'm, it's, Jonathan Javier, Javier, It's Organizations: Meta, Service, Netflix, Google, Facebook, LinkedIn, Cisco Locations: Redding , California, San Francisco, Minneapolis, Minnesota, Spain, Morocco, Netherlands, Argentina, Brazil, Chile, Silicon, Europe, Asia, Seattle, Los Angeles

☆ Snap Returns to Revenue Growth After Two Quarters of Declining Sales
▼ + stars: | 2023-10-25 | by ( Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

Snap, among the first of the major social-media platforms to report earnings, says third-quarter revenue rose 5% year-over-year to $1.2 billion. Photo: Brent Lewin/Bloomberg NewsSnap, the parent company of the popular social-media app Snapchat , returned to positive revenue growth in the third quarter after two consecutive quarters of declining sales, citing improvements in its ad platform. Snap, among the first of the major social-media platforms to report earnings, said Tuesday that third-quarter revenue rose 5% year-over-year to $1.2 billion. Analysts had predicted a drop of 1.6%, according to FactSet.

Persons: Brent Lewin Organizations: Bloomberg

☆ Meta has managed to get 33 US states to agree on something
▼ + stars: | 2023-10-25 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

See here: More than three dozen states are suing the parent company of Instagram and Facebook over fears that its platforms’ “addictive” features are harming teens’ mental health. In a federal lawsuit filed in California, 33 attorneys general allege that Meta’s products have harmed minors and contributed to a mental health crisis in the United States. Eight additional attorneys general sued Meta in state courts, making similar claims. And the state of Florida sued the company in its own federal lawsuit alleging it misled users about potential health risks. The federal complaint filed in California calls for court orders prohibiting Meta from violating the law and, in the case of many states, unspecified financial penalties.

Persons: CNN Business ’, New York CNN —, Brian Fung, Frances Haugen, Meta, Jonathan Skrmetti, ”, “ We’re, Haugen, didn’t, can’t, Phil Weiser, Meta’s, you’ll Organizations: CNN Business, New York CNN, Meta, Facebook, Big Tech, Wall Street, ” Colorado, Google Locations: New York, California, United States, Florida, Tennessee

☆ Meta Posts 23% Growth as Ads Rebound, With Profit More Than Doubling
▼ + stars: | 2023-10-25 | by ( Mike Isaac | More About Mike Isaac | ) www.nytimes.com time to read: +1 min

Mark Zuckerberg, Meta’s chief executive, spent the past two years weathering a slump in digital advertising and cutting costs. Profit was $11.6 billion, more than double the $4.4 billion from a year earlier. Meta’s growth was bolstered by a rebound in digital ads, which has also fueled the financial performance of other companies. On Tuesday, Google reported increased ad sales, with Snap also disclosing rising sales after revenue declined for two quarters. But Meta’s results were also helped by its cost cuts, as expenses fell 7 percent from a year earlier to $20.4 billion.

Persons: Mark Zuckerberg Organizations: FactSet, Google

☆ Meta's ad rebound gets huge assist from China even though its services are banned there
▼ + stars: | 2023-10-25 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

A Facebook sign is seen at the second China International Import Expo (CIIE) in Shanghai, China November 6, 2019. Meta may be banned from operating in China, but the company is finding plenty of growth coming from the world's second-biggest economy. Susan Li, Meta's finance chief, told analysts on the earnings call that Chinese companies played a major role this quarter, continuing a theme from recent periods. Online commerce and gaming "benefited from spend among advertisers in China reaching customers in other markets," Li said. "Brazil was a strong contributor to the region's acceleration due in part to increased advertisers demand from China advertisers targeting users in Brazil," Li said.

Persons: Meta, Susan Li, Li Organizations: China, Facebook, North America, Google, Twitter, Meta Locations: Shanghai, China, Europe, Asia, Pacific, South America, Brazil, Israel

☆ CNBC Daily Open: Strong earnings are the catalyst markets need
▼ + stars: | 2023-10-25 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Net income, at $22.29 billion, increased 27% from $17.56 billion, or $2.35 per share in the same quarter a year ago. For the quarter, it reported earnings per share of $1.55 vs. $1.45 expected by LSEG, formerly known as Refinitiv. Google Cloud revenue was $8.41 billion vs. $8.64 billion, according to StreetAccount.

Persons: Dow, bitcoin Organizations: CNBC, Dow Jones Industrial, Verizon, Microsoft, LSEG, Google Locations: Europe's

☆ CNBC Daily Open: Strong earnings pave the way for markets
▼ + stars: | 2023-10-25 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. For the quarter, it reported earnings per share of $1.55 vs. $1.45 expected by LSEG, formerly known as Refinitiv. Google Cloud revenue was $8.41 billion vs. $8.64 billion, according to StreetAccount. Snap shares seesawSnap shares initially soared as much as 20% in after-hours trading as the company beat on the top and bottom lines.

Persons: Dow Organizations: CNBC, Dow Jones Industrial, Verizon, Microsoft, LSEG, Google, Treasury Locations: Hong Kong, Asia, Israel, United States, China

☆ Avalanche pull away from Isles, maintain perfect mark
▼ + stars: | 2023-10-25 | by ( Field Level Media | ) www.reuters.com time to read: +3 min

Colorado's Ryan Johansen scored twice, Rantanen had a goal and three assists and Cale Makar added a goal and two assists. Ross Colton also scored, Valeri Nichushkin logged two assists and Alexandar Georgiev stopped 27 shots for the Avalanche. Cal Clutterbuck led the Islanders with a goal and an assist, while Simon Holmstrom, Kyle Palmieri and Anders Lee also scored. Byram scored his first goal of the season at the 19:18 mark with a wrist shot through traffic from the high slot. The Islanders grabbed a power-play goal early in the second period as Kyle Palmieri made it 2-2 at 2:56.

Persons: Matt Martin, Logan O'Connor, Brad Penner, Nathan Mackinnon, Bowen Byram, Mikko Rantanen, Colorado's Ryan Johansen, Rantanen, Cale Makar, Ross Colton, Valeri Nichushkin, Alexandar Georgiev, Cal Clutterbuck, Simon Holmstrom, Kyle Palmieri, Anders Lee, Noah Dobson, Jean, Gabriel Pageau, Ilya Sorokin, Byram, MacKinnon, Lee, Johansen, Makar, Dobson, Georgiev, Holstrom Organizations: New York Islanders, Colorado Avalanche, UBS Arena, Avalanche, Colorado, NHL, Cal, Islanders, New, New York, Thomson Locations: , New York, USA, Elmont, New York, Colorado, . New York, Clutterbuck

☆ Stocks making the biggest moves midday: Microsoft, Alphabet, Waste Management and more
▼ + stars: | 2023-10-25 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Microsoft posted almost 13% year-over-year revenue growth, and its Azure cloud segment saw revenue gain 29% for the quarter. Norfolk Southern — The freight railroad dropped 5.3% on the back of disappointing third-quarter earnings. General Dynamics — Shares of General Dynamics rose 4% after the defense contractor's third-quarter earnings and revenue topped estimates. The semiconductor manufacturer sees earnings per share between $1.35 and $1.57, versus the $1.76 expected by analysts polled by FactSet. The stock's third-quarter revenue also disappointed investors, coming in at $4.35 billion, versus the $4.58 billion estimated by analysts polled by LSEG.

Persons: Wells, Max, —, Lisa Kailai Han, Fred Imbert, Hakyung Kim, Yun Li Organizations: Microsoft —, Microsoft, Windows, Norfolk Southern, LSEG, Revenue, Dynamics —, Dynamics, General Dynamics, Boeing —, Deutsche Bank, . Waste Management, Texas, FactSet Locations: U.S

☆ Meta to report third-quarter earnings after the bell
▼ + stars: | 2023-10-25 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +4 min

Mark Zuckerberg, CEO of Meta, attends a U.S. Senate bipartisan Artificial Intelligence Insight Forum at the U.S. Capitol in Washington, D.C., Sept. 13, 2023. Meta is set to report third-quarter earnings after the bell Wednesday. The company is expected to show growth of 21% in the third quarter after sales increased 11% in the prior period. Meta appears to be the furthest along in terms of improving the effectiveness of its online ad platform following Apple's changes. Meta, X and others must adhere to the DSA by removing illegal content and detailing how they're doing it.

Persons: Mark Zuckerberg, that's, Susan Li, Snap Organizations: Meta, U.S, Senate, Intelligence, Capitol, Washington , D.C, StreetAccount, EU, Digital Services, European Commission, Russia, Reality Labs Locations: Washington ,, U.S, Israel, Ukraine

☆ Stocks making the biggest moves premarket: Alphabet, Microsoft, Boeing and more
▼ + stars: | 2023-10-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Alphabet — The Google and YouTube parent sank more than 6% premarket after results for its cloud business fell short of estimates. Boeing — Shares of the jet plane maker rose more than 3% premarket after it reported a quarterly revenue beat . Texas Instruments —The semiconductor designer and manufacturer's stock slid 5.5%, one day after fourth quarter guidance trailed estimates. Visa — The payments stock fell 1.3% before the bell after fourth quarter earnings and revenue topped analyst estimates and it raised its dividend by 16%. Revenue also beat expectations, along with fiscal second quarter and full-year revenue guidance.

Persons: Max, TXN, FactSet's StreetAccount, Wells, Hilton, Stride, —, Alex Harring, Sarah Min, Fred Imbert, Yun Li Organizations: Google, YouTube, LSEG, Microsoft, Xbox, Boeing —, Boeing, Texas, Deutsche Bank — U.S, Deutsche Bank, Visa, Dynamics, General Dynamics, Mobile, Revenue Locations: Israel, FactSet

☆ Startup workers are on edge
▼ + stars: | 2023-10-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at why startups that have navigated multiple rounds of layoffs have left their workers feeling defeated. It's a question more and more startup employees are contemplating amid a historic downturn in the industry coupled with a pullback in VC funding. But as Insider's Samantha Stokes and Madeline Renbarger detail, employees are on edge nowadays because of the threat of multiple layoffs in a short time. Why work for a corporate entity and be a cog in the wheel when you can get hands-on experience at a startup? AdvertisementAdvertisementiStock; Rebecca Zisser/InsiderBut just because layoffs are a necessary evil of the startup industry, that doesn't mean employees' concerns aren't warranted.

Persons: —, Jamie Dimon isn't, JPMorgan's Jamie Dimon isn't, Samantha Lee, Samantha Stokes, Madeline Renbarger, Samantha, Madeline they've, Rebecca Zisser, Severance, Jamie Dimon, David Rosenberg, Myriam, Airism, Arantza Pena Popo, Chris Rondeau, it's, Katy Perry, Pablo Picasso, Kiersten, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, What's, JPMorgan, EV, Microsoft, TikTok, IBM, Boeing, Meta, Mattel Locations: Southern California, New York City, San Diego, London, New York

The $3.5 billion range ($36.5 billion to $40 billion) compares to a $2.5 billion range the company typically offers in its quarterly revenue forecast. Susan Li, Meta's finance chief, told analysts on the earnings call that the reason for the change is the unpredictability in the Middle East due to the Israel-Hamas war. At the mid-point of its guidance range, Meta would be expecting revenue of $38.25 billion, compared to the average analyst estimate of $38.85 billion, according to LSEG, formerly known as Refinitiv. For the third quarter, Meta beat on the top and bottom lines, boosting its shares in extended trading on Wednesday. Meta's commentary surrounding the Middle East conflict, which escalated this month after Hamas attacked Israel, follows cautionary statements from Snap on Tuesday.

Persons: Susan Li, Li, Meta, Joe Biden Organizations: Meta, White Locations: Israel, Ukraine, Russia, Gaza

Alphabet (GOOGL.O) and Snap surpassed third-quarter revenue expectations on Tuesday, with the tech giant seeing strong growth both at its core Search and YouTube units. Meanwhile, Snap's efforts to revamp its ad targeting tools with technology also paid rich dividends, as average revenue per user increased in the third quarter. "We expect the larger platforms like Meta and Google to lead the wallet share growth at least initially in this ad spend recovery," analysts at Evercore ISI said. Meta has also leaned heavily on AI-powered marketing planning and ad measurement features in recent years to drive its growth. "Facebook/Instagram's tools for creating a (marketing) campaign are vastly quicker and easier to use" than smaller rivals including Snap, RBC analysts said, which could potentially give Meta an edge.

Persons: Arnd, Philipp Schindler, Max, Samrhitha Arunasalam, Aditya Soni, Sriraj Organizations: REUTERS, Google, Facebook, YouTube, Evercore, Meta, RBC, Thomson Locations: Zurich, Switzerland, Middle East, Bengaluru

☆ Snap Returns to Revenue Growth After 2 Quarters Of Declining Sales
▼ + stars: | 2023-10-24 | by ( Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

Persons: Brent Lewin Organizations: Bloomberg

☆ Buying on weakness in Google stock is the 'right move for Meta': Roth's Rohit Kulkarni
▼ + stars: | 2023-10-24 | 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 EmailBuying on weakness in Google stock is the 'right move for Meta': Roth's Rohit KulkarniRohit Kulkarni, Roth Capital Partners Managing Director, 'Closing Bell Overtime' to talk Meta earnings on deck, the advertising space, Snap's quarterly results and more.

Persons: Roth's Rohit Kulkarni Rohit Kulkarni Organizations: Meta, Roth Capital Partners

☆ States sue Instagram-parent Meta over 'addictive' features and youth mental health harms
▼ + stars: | 2023-10-24 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

CNN —Dozens of states sued Instagram-parent Meta on Tuesday, accusing the social media giant of harming young users’ mental health through allegedly addictive features such as infinite news feeds and frequent notifications that demand users’ constant attention. In a federal lawsuit filed in California by 33 attorneys general, the states allege that Meta’s products have harmed minors and contributed to a mental health crisis in the United States. “Social media companies, including Meta, have contributed to a national youth mental health crisis and they must be held accountable. Battle lines renewedTuesday’s multipronged legal assault marks the newest attempt by states to rein in large tech platforms over fears that social media companies are fueling a spike in youth depression and suicidal ideation. In some cases, the tech industry has challenged those laws in court — for example, by claiming that Arkansas’ social media law violates residents’ First Amendment rights to access information.

Persons: Instagram, Meta, ”, Letitia James, Brian Schwalb, ” Meta, “ We’re, Yvonne Gonzalez Rogers Organizations: CNN, “ Social, Meta, District of Columbia, Google Locations: California, United States, New York, Arkansas, Louisiana, District, Colorado , Connecticut, Delaware, Georgia, Hawaii , Idaho , Illinois , Indiana , Kansas , Kentucky, Maine , Maryland , Michigan, Minnesota , Missouri , Nebraska , New Jersey , New York, North Carolina , North Dakota , Ohio , Oregon , Pennsylvania, Rhode Island , South Carolina, South Dakota, Virginia, Washington, West Virginia, Wisconsin, District of Columbia , Massachusetts , Mississippi , New Hampshire , Oklahoma , Tennessee , Utah, Vermont

☆ Loop Capital's Rob Sanderson makes the contrarian case for Snap ahead of earnings
▼ + stars: | 2023-10-24 | 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 EmailLoop Capital's Rob Sanderson makes the contrarian case for Snap ahead of earningsRob Sanderson, managing director at Loop Capital Markets, joins 'Power Lunch' to discuss the decline of Snap's ad revenue, skepticism about how Snap will perform going forward, and expectations for earnings from internet advertisers.

Persons: Rob Sanderson Organizations: Loop

☆ Snap Reports 5% Revenue Increase, Reversing Declines in Growth
▼ + stars: | 2023-10-24 | by ( Yiwen Lu | More About Yiwen Lu | ) www.nytimes.com time to read: 1 min

Snap, the parent company of Snapchat, on Tuesday reported that its revenue rose 5 percent in the latest quarter after two straight quarters of declines, as the digital advertising market rebounded. But Snap cautioned that the ad market remains unpredictable and that it has “observed pauses in spending from a large number of primarily brand-oriented advertising campaigns immediately following the onset of the war in the Middle East.”Revenue for the third quarter was $1.19 billion, up from $1.13 billion a year ago and above Wall Street estimates of $1.11 billion. In the previous two quarters, Snap’s revenue had fallen between 4 percent and 7 percent. The company remained unprofitable, recording a net loss of $368 million for the third quarter, which was wider than a loss of $360 million a year ago.

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