Snap Adds to Chilly Advertising Outlook

Selling online ads is great if you’re Meta Platforms. For the rest, it’s increasingly blah. 

Snap joined a parade of internet companies to warn digital advertising growth was cooling, catching Wall Street by surprise. The news took 20% off the price of Snap shares in after-hours trading Thursday. 

The parent of Snapchat said it expects third-quarter revenue to rise between 12% and 16%, slower than 16% in the second quarter and 21% in the first.