Byrna Withdraws Guidance For Fiscal Year 2023 Owing To Ban On Advertising of Products From All Meta Platforms
Portfolio Pulse from Benzinga Newsdesk
Byrna has withdrawn its guidance for fiscal year 2023 due to the ban on advertising of its products on all Meta platforms. Despite this, Byrna still expects to improve its top- and bottom-line performance in fiscal 2023.
July 11, 2023 | 12:11 pm
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NEGATIVE IMPACT
Meta's decision to ban advertising of Byrna's products may reflect on its advertising revenue, but the overall impact is likely to be minimal given the size and diversity of Meta's advertising base.
While Meta's decision to ban advertising of Byrna's products could slightly impact its advertising revenue, the overall impact is likely to be minimal given the size and diversity of Meta's advertising base.
CONFIDENCE 80
IMPORTANCE 25
RELEVANCE 50
NEUTRAL IMPACT
Byrna's decision to withdraw its FY2023 guidance due to Meta's ad ban may create uncertainty among investors. However, the company's expectation to improve its financial performance could mitigate this impact.
The withdrawal of Byrna's FY2023 guidance due to the advertising ban on Meta platforms may cause uncertainty among investors, potentially affecting the stock price. However, Byrna's expectation to improve its financial performance in FY2023 could offset this negative impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100