After Meta Platforms, the owner of Facebook, released its fourth quarter earnings statement that saw the stock fall 22%, shares of social network operators Pinterest and Snap fell in extended trading Wednesday.

Snap shares fell 18% in the hours following. Pinterest fell almost 10%, while Twitter dropped almost 8%.
The impact was not limited to social media. The shares of 
Amazon fell more than 3%. This company has an expanding advertising business. Amazon releases its results Thursday.

Microsoft shares, which also have exposure to advertising through the business social network LinkedIn moved almost 1% lower.

Facebook’s fourth quarter earnings and user numbers fell short of expectations. The company also reported that its quarterly revenue guidance range was below consensus.

Satya Nadella, Microsoft CEO, spoke up about digital advertising opportunities last week. She told analysts that the company’s advertising revenue has exceeded $10 billion in the past twelve months before traffic acquisition costs.