From Nasdaq:

Snap’s stock plummeted by more than 31% after reporting lower fourth-quarter revenue, struggling to compete for ad dollars against Meta and Alphabet. With a market value loss of $9 billion and a 10% staff layoff announced, it’s evident that the company’s rebound has not kept pace with competitors. Meta’s ad sales surged 25% and Alphabet’s Google ad business grew 11%, indicating market trends are favorable towards the larger, more stable companies. Snap’s shares are trading at a forward PE of 88.37 compared to Meta’s and Pinterest’s forward PE of 22.71 and 29.47 respectively, making the market less optimistic about its rebound from the ad slump.



Read more: Snap tumbles as ad sales lag larger rivals