Facebook and Google Have Yet to Feel the Full Impact of the Advertising Collapse [TheStreet.com]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: TheStreet.com
The coronavirus pandemic is destroying advertising budgets, but you wouldn’t know it to look at the two titans of the digital ad industry, Facebook(FBGet ReportGOOGLMore significantly, neither has seen estimates change very much in the month during which the entire world seems to have changed, including advertising. Estimates from analysts who are among the longest followers of their businesses suggest revenue this year for both companies could end up being far lower than currently expected.Both Facebook and Google make the vast majority of their revenue from advertising, a business that is heading toward what looks like a crisis as the result of COVID-19 lockdowns whose economic effect has yet to be fully felt.Airlines are carrying fractions of the load they used to, people can’t stay in resorts and dining out is way down, which means whole swaths of lifestyle brand advertising have no function in the present economy.Things are going to get worse before they get better. The biggest a
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