Communications services companies fell sharply amid concerns about digital-advertising growth rates.
Facebook parent Meta shares tumbled after it reported a second straight decline in revenue, reflecting slowing advertising demand, increased competition from TikTok and other factors.
Advertising giant WPP posted a sharp increase in quarterly revenue, and said demand remains strong for advertising and marketing services.
ESPN sold its controlling interest in the X Games, the extreme-sports competition franchise, to private-equity firm MSP Sports Capital.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
10-26-22 1720ET