YoY

"We have begun to see some ad verticals improve, which resulted in modest YoY platform revenue growth in Q2, and we are well positioned to re-accelerate growth as the ad market recovers," CEO Anthony Wood and CFO Dan Jedda said in a joint statement.

"We think this reflects the collapse in YoY volatility in gas prices, consistent with declining capital consumption in CGM," analysts at Citi said.

The watchdog also highlighted that General Mills "saw its net earnings increase by nearly $2 billion YoY for the first nine months of FY 2023, as the company spent over $2.16 billion on its shareholders through a combination of dividends and stock buybacks."

The analysis adds that the company "saw its Q1 2023 net income increase by 7.1% YoY to $837 million and spent $491 million on shareholder dividends."

In February, Apple reported that sales of its Mac computers, which had boomed during the wave of working from home during the pandemic, declined 29% YoY to $7.7 billion in their most recent quarter.