By Jon Swartz Snap earnings preview: Analyst says ‘the darkest days of this economic downturn are ahead of us,’ and Snap will be the first out of the gate to detail exactly how dark it is for social-media companies The last time Snap Inc. reported quarterly results, the roof caved in and its shares lost a quarter of their value. Slackening digital advertising and warnings of deep cost cuts will do that to a stock. But Snap’s (SNAP) conundrum was merely a prelude for similar troubles at Facebook parent company Meta Platforms Inc. (META), Twitter Inc. (TWTR), Pinterest Inc. (PINS) and, to a lesser extent, Alphabet Inc.’s (GOOGL) (GOOGL) Google. Each is caught in a vice grip of inflation, a war in Ukraine and a looming recession, which combine to make for a dismal near-future for online advertising. When Snap reports its fiscal third-quarter results Thursday, analysts expect more of the same: Little good news, and a warning for other companies set to follow with their own earnings. “Snap is the worst-performing stock in our coverage universe thus far in 2022,” Brian White of Monness Crespi Hardt said in a note Monday. “Moreover, we believe the darkest days of this…
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Snapchat is about to play the canary in social media's treacherous coal mine | Morningstar
