Match Group Inc (NASDAQ: MTCH) shares dropped 17% on Wednesday after the online dating company reported disappointing second-quarter revenue and issued lackluster guidance.
Analysts are sizing up Wednesday's second-quarter earnings report from Meta Platforms that cited weaker advertising spending and several macro headwinds for the social media platform.
Could growth of Reels be enough to offset revenue declines?
Google-parent Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) reported quarterly revenue at $69.7 billion, up 13% year-over-year but short of Street expectations of $69.88 billion.
As social-media stocks gear up to release their quarterly reports over the week and the next, an analyst at KeyBanc Capital Markets lowered his estimates and price targets for the big players in the space.
Snap stock lost over one-quarter of its market cap in Thursday’s after-hours trading following the disappointing quarterly results reported by the Snapchat parent.
Netflix, Inc. (NASDAQ: NFLX) shares gained 7.1% on Wednesday after the company reported better-than-expected subscriber losses in the second quarter and detailed plans to launch a new, low-cost, ad-supported subscription tier.