Twitter Inc TWTR shares may be getting a sympathy bump off of LinkedIn Corp LNKD acquisition news, but it’s about the only good news the company has seen lately.
An survey from STRATA, a unit of Comcast Corporation CMCSA, details the results of a STRATA survey that found advertisers are more likely now to choose Instagram than Twitter for social media ad campaigns.
The results of the survey were announced the same day the company’s head of product was reported to be leaving. Weaker than expected spending from big advertisers were one aspect of a disappointing Q1 earnings report. Twitter shares are down 18 percent since those earnings were released.
Snapchat on Tuesday announced the impending arrival of ads on its platform - a platform recently reported to be on track to surpass Twitter in U.S. active users. In addition, Instagram has the benefit of using the ad technology of Facebook Inc FB.
Shares of Twitter were up nearly 4 percent at $15.10 on Tuesday.
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