Snap Falls After Warning ‘Headwinds’ Poised to Hurt Ad Sales
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Shares of Snap Inc. tumbled after the company narrowly beat analysts’ estimates for first-quarter revenue but declined to issue a sales forecast for the current period, saying it’s navigating macroeconomic “headwinds” for its advertising business.
While sales continue to grow in the second quarter, Snap said economic volatility “may impact advertising demand more broadly,” contributing to its decision to withhold sales projections.