Alphabet, Meta lure back advertisers as smaller rivals expected to struggle

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Reuters UK

By Sheila Dang (Reuters) – Advertisers are sticking with safe havens Alphabet and Meta Platforms in an uncertain economy, their quarterly results showed, likely helping the tech giants take market share away from smaller digital ad sellers such as Snap Inc. Following a pandemic-led spending bonanza by advertisers who wanted to reach customers online, ad sales-reliant tech firms faced tough comparisons in the past several quarters. Customers cut their ad budgets after interest rates rose and record-high inflation fueled worries about the economy. This year, though, the social media ad market is…

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