Facebook and Google to See Advertising Slow Due to Coronavirus
Facebook (NASDAQ: FB) and Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google have experienced an uptick in usage as people turn to social media for information, entertainment, and solace amid the COVID-19 outbreak.
But that isn't going to stop either company from seeing a slowdown in advertising sales. With travel coming to a halt, stores across the globe shuttered to foot traffic, and layoffs mounting, advertisers are reining in their ad spending.
How bad the loss will be depends on the length of the pandemic. But if China is any indication, it's going to be many billions of dollars.
Source Fool.com
