After a challenging 2022 in which advertising-dependent companies faced shrinking budgets and cratering stock prices, fourth-quarter results this week from Alphabet, Meta Platforms and Snap showed they were not yet in the clear. The health of the advertising industry closely mirrors the economy, and many
After a challenging 2022 in which advertising-dependent companies faced shrinking budgets and cratering stock prices, fourth-quarter results this week from Alphabet, Meta Platforms and Snap showed they were not yet in the clear.
"For a company the size of Google and as influential as Google to have such disappointing results, won't turn around in one quarter," said Evelyn Mitchell, an analyst at Insider Intelligence. Meta Platforms Inc, the second-largest digital ad platform, lifted Wall Street on Wednesday with its cost cuts and big share buyback, though it posted its third consecutive quarter of year-over-year revenue decline.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Meta mojo is back: Earnings surprise sparks share surge, lifts Big TechMeta Platforms Inc shares rose nearly 20 per cent in premarket trade after the Facebook owner floored Wall Street by slashing its spending forecast and boosting its stock buyback plan by $40 billion.The company was set to add around $75 billion to its market value and would post its best day in a decade,
Read more »
Indonesian president sees 2022 GDP growth at 5.2%-5.3%JAKARTA : Indonesian President Joko Widodo said the economy is expected to record growth of 5.2 per cent-5.3 per cent for last year.Official 2022 gross domestic product data will be released next week. The government's GDP growth target for this year is 5.3 per cent.
Read more »
Hong Kong economy shrank 3.5% in 2022HONG KONG - Hong Kong’s economy shrank by 3.5 per cent in 2022, with exports plunging and the city’s worst-ever coronavirus outbreak battering businesses, the government announced Wednesday, while saying it hoped China’s reopening would spur a recovery. Read more at straitstimes.com.
Read more »
Crypto hacks stole record $3.8 billion in 2022, led by North Korea groups - reportSEOUL : Last year was the worst on record for cryptocurrency heists, with hackers stealing as much as $3.8 billion, led by attackers linked to North Korea who netted more than ever before, a U.S.-based blockchain analytics firm said in a report on Wednesday.The report by Chainalysis found hacking activity
Read more »
Indonesia 2023 gasoline demand, imports likely to exceed 2022 recordsGasoline consumption and imports in Indonesia, Asia's largest importer of the motor fuel, could hit records this year as the nation recovers from COVID-related travel curbs, although growth is expected to slow slightly along with its economy. A spike in Indonesian imports would tighten the regional gasoli
Read more »
Chip equipment maker Siltronic posts record sales for 2022German chip equipment supplier Siltronic on Thursday said its sales and core profit reached record highs in 2022, driven price increases and strong U.S. dollar.The provider of silicon wafers for semiconductor industry reported a 28 per cent jump in annual sales to 1.8 billion euros ($2.0 billion), in line
Read more »