NASDAQ experienced the worst year since 2008 with the index down by more than 30%. The biggest factor behind the dismal performance was the major decline in tech stock prices: Meta lost 65% of its market value while Alphabet was down 35%.
What is the common thread behind the slump? Decline of #advertising revenue.
Meta’s ad revenue declined by 4% which is a stark contrast from their 33% growth a year ago. Although Google’s ad revenue grew by 3% in Q3 of 2022, this is a substantial decline relative to their 43% growth a year ago.
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