Shares of Pinterest edged lower by 5.9% Wednesday morning. Snap's earnings report triggered broader concerns about digital advertising trends affecting social media companies.
Let's have a look at what is happening on the US markets before the opening bell on Wednesday. Below you can find the top gainers and losers in today's pre-market session.
Snapchat's AI chatbot My AI—once met with user backlash—has seen U.S. daily active users grow 55% year-over-year, as Snap doubles down on integrating AI with augmented reality.
CEO Evan Spiegel noted progress with direct-response advertising solutions, continued momentum in driving performance for small and medium sized businesses and growth of Snapchat+ subscription business.
Social network Snapchat (NYSE: SNAP) announced better-than-expected revenue in Q1 CY2025, with sales up 14.1% year on year to $1.36 billion. Its GAAP loss of $0.08 per share was 40.3% above analysts’ consensus estimates.
Former Meta COO Sheryl Sandberg testified in an antitrust trial, revealing efforts to block ads from competitors like Google Plus and KakaoTalk, while Mark Zuckerberg acknowledged TikTok's dominance over Facebook and Instagram.
TikTok has reportedly laid off members of its U.S. e-commerce team amid internal performance issues and growing uncertainty over its future in the U.S., just days after a ByteDance divestment deal collapsed following Trump's steep new tariffs on China.
