Entravision shares are trading lower after the company received communication from Meta indicating its intention to wind down its ASP program globally, ending its relationship with all ASPs, including Entravision, by July 1. The ASP program represented a large portion of Entravision's total consolidated revenue.
Portfolio Pulse from Benzinga Newsdesk
Entravision shares are trading lower following Meta's decision to end its ASP program globally by July 1, impacting Entravision significantly as the program constituted a large portion of its total consolidated revenue.
March 05, 2024 | 9:59 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Entravision's stock is trading lower due to Meta's decision to terminate its ASP program, which is a significant revenue source for Entravision.
Meta's decision to wind down its ASP program directly impacts Entravision's financial health, as the program represents a large portion of its revenue. The termination of this program is likely to have a negative effect on Entravision's stock price in the short term due to the anticipated loss of revenue.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100