Reported about 15 hours ago
Snap has chosen not to issue a second-quarter financial forecast due to economic uncertainty impacting ad budgets, leading to a 13% drop in its shares. Despite a 59% growth in Snapchat+ subscriptions and a 14% rise in revenue to $1.36 billion, analysts warn that advertisers may shift spending to larger competitors like Meta. The company focuses on smaller businesses and direct response ads, aiming for 1 billion monthly active users.
Source: YAHOO