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Everyone’s watching Meta’s earnings report for a hint at how online ads are doing

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Wall Street’s worst year since 2008 wreaked havoc on tech companies, particularly those reliant on digital advertising.

Facebook parent Meta lost almost two-thirds of its value in 2022 as year-over-year revenue fell in consecutive quarters, leading the company in November to cut 13% of its workforce. Snap’s

 stock plummeted 81% as growth dipped into the single digits, and the company opted not to provide a forecast for two straight periods. In August, Snap said it was laying off 20% of its employees.

Read more about this at: cnbc

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Andrew Sabastian is a tech whiz who is obsessed with everything technology. Basically, he's a software and tech mastermind who likes to feed readers gritty tech news to keep their techie intellects nourished.