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 terminate its ASP program globally by July 1, impacting all ASPs including Entravision. This program constituted a significant part of Entravision's total consolidated revenue.
March 06, 2024 | 11:51 am
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NEGATIVE IMPACT
Entravision's stock is trading lower due to Meta's decision to end the ASP program, which is a significant revenue source for Entravision.
Meta's decision to terminate the ASP program directly impacts Entravision's revenue, as the program is a substantial part of their total consolidated revenue. This negative news is likely to decrease investor confidence in Entravision's financial stability and growth prospects in the short term, leading to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100