Sports Ventures Acquisition Equity Warrant Exp 06 Jan 2028 *W EXP 01/06/2028
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Company profile

Sports Ventures Acquisition Corp. is a blank check company. The Company is formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or other similar business combination. The Company may pursue acquisitions in any sector or industry. The Company intends to search for opportunities in the sports, media and entertainment sectors, including traditional and emerging sports as well as film and television production and infrastructure.

Price
Delayed
$0.0696
Day's Change
-0.0072 (-9.38%)
Bid
--
Ask
--
B/A Size
--
Day's High
0.0696
Day's Low
0.0696
Volume
(Light)

Today's volume of 100 shares is on pace to be much lighter than AKICW's 10-day average volume of 23,424 shares.

100

Google's troubles lead analysts to point fingers squarely at YouTube

8:35 am ET April 28, 2022 (MarketWatch)
Print

By Jon Swartz

'Surprisingly weak' revenue growth from video-streaming service adds to Wall Street's 'fears that YouTube's mobile product will suffer from the same fate' as Facebook, analysts write

Google parent Alphabet Inc. is on firmer ground than most online ad companies, but YouTube is a big question mark.

Those were two major takeaways from Wall Street analysts after the predominant digital ad company (GOOGL)(GOOGL) reported sales and earnings that came up short of projections. The miss was credited in large part to YouTube underperforming in Europe amid a conflict in Ukraine and against intensifying pressure from TikTok and streaming services from Walt Disney Co. (DIS), Apple Inc. (AAPL), Netflix Inc. (NFLX), AT&T Inc. (T) and others.

Alphabet shares were down 4% in late-afternoon trading Wednesday.

Read more: Alphabet sales and earnings fall just short of estimates, stock dips

YouTube's revenue growth of 14% to $6.9 billion was its third consecutive quarter of slower-than-expected growth and likely represents the lowest year-over-year increase since the pandemic-tainted second quarter of 2020.

YouTube's "surprisingly weak" performance prompted Mizuho Securities analyst James Lee on Wednesday to lower his fiscal 2024 EBITDA for Alphabet by 3% to $158 billion and slice his price target to $3,500 from $3,600. Lee maintains a buy on the stock.

"Over the past quarter, since Meta surfaced their competitive concerns stemming from the rise of TikTok, the investment community has been buzzing with fears that YouTube's mobile product will suffer from the same fate," Michael Nathanson of MoffettNathanson said in a note Wednesday that maintained a buy rating on Alphabet shares with a price target of $3,100.

From 2021: YouTube is as big as Netflix, and growing much faster

"The tone of the [earnings conference] call [on Tuesday] was mixed with Alphabet experiencing the impact of suspending activities in Russia (1% of 2021 sales), reduced ad spending in Europe, weaker YouTube direct response trends, and the negative impact of [foreign exchange]," Monness Crespi Hardt's Brian White said in a note Wednesday that slashed Alphabet's price target to $3,500 from $3,850.

Alphabet's less-than-stellar results bode ill for Meta Platforms Inc. (FB), which is considered significantly more vulnerable to the same economic hurdles that have already battered Snap Inc. (SNAP)In its previous earnings report, Meta Chief Financial Officer David Wehner estimated Apple's identifier for advertisers (IDFA) under iOS 14.5, which requires app makers to ask consumers to allow tracking of them, will cost Meta an estimated $10 billion in 2022. Additionally, Wehner expressed concern over future versions of iOS and regulatory issues in the U.S. and abroad.

Read more: Facebook's meh year 'could get better ... it just isn't'

By comparison, Alphabet's issues seem trivial. YouTube aside, Piper Sandler's Thomas Champion was encouraged by innovation in search and the performance of Google Cloud, which soared 44% to $5.8 billion.

Still, Tuesday's not-so-scintillating numbers reflect a tech industry that could endure a rough 2022 marred by a gauntlet of supply chain constraints, inflation and Ukraine ablaze.

"In 'The dark days of tech', not even Google is immune to the countless sector headwinds," Bernstein analyst Mark Shmulik said in a note Wednesday. "The cracks started a few quarters back, but investors were happy to gloss over them given continued Search strength."

Alphabet shares are now down more than 20% on the year, while the S&P 500 index has decline 12.4%.

-Jon Swartz

	

(END) Dow Jones Newswires

April 28, 2022 08:35 ET (12:35 GMT)

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