Snap Falls After Saying Advertising Revenue Buffeted by War

Snap Inc. declined in extended trading after noting that advertising revenue, a key part of its business, has been hampered by the war in the Middle East.

“Geopolitical headwinds in the Middle East” have had a negative impact on ad sales, the company said in a letter to shareholders, costing Snap between $20 million and $25 million in March alone. Still, the maker of the Snapchat app said total revenue will be $1.52 billion to $1.55 billion in the period ending in June, in line with analysts’ estimates.