Pinterest, Snap and Twitter fall after Facebook earnings disappoint
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Mark Zuckerberg, Facebook CEO and Chairman, testifies in front of the House Financial Services Committee, on October 23rd, 2019, at the Rayburn House Office Building, Washington, DC.
MANDEL NGAN | AFP | Getty Images
Social network operators share their shares Pinterest, SnapAnd TwitterAfter Facebook owner, all stocks declined in extended trading Meta PlatformsIssued its fourth-quarter earnings statementThis caused the stock to fall 22%
Snap shares fell by as high as 21% in the hours following. Pinterest dropped 10% while Twitter fell 7%.
However, the social media impact was far beyond that. There were shares of AmazonAdvertising business that is growing, was down by 3%. Amazon releases results Thursday. Microsoft shares, which have exposure to advertising through LinkedIn business social network, were almost 1% less.
Facebook reported fourth-quarter earnings and user numbers that were below expectations. It also revealed that its guidance for quarterly revenue was lower than consensus.
Satya Nadella from Microsoft spoke about the potential of digital advertising.
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