PINS - Wall Street Breakfast: Ad-Mageddon

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. Ad-Mageddon Shares of Snap (SNAP) tumbled around 20% AH on Thursday following results that some are referring to as "ad-mageddon." The long-feared internet advertising meltdown was responsible for a revenue miss in Q3, with sales coming in at $1.07B vs. expectations for $1.1B. The company also detailed a worse forecast for the coming holiday quarter, which is typically one of the busiest, saying it anticipated a revenue growth rate of 19%-20%, down from third quarter growth of 57%.What happened? "Our advertising business was disrupted by changes to iOS ad tracking that were broadly rolled out by Apple (AAPL) in June and July," CEO Evan Spiegel said on a conference call. "While we anticipated some degree of business disruption, the new Apple-provided measurement solution did not scale

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Wall Street Breakfast: Ad-Mageddon