Snap Beats Revenue Forecasts but Shares Tumble on Murky Outlook
Summary
Snap's revenue exceeded projections, but the company's shares plummeted after it refrained from providing guidance, citing potential advertising demand constraints amid economic uncertainties, leaving investors uncertain about its future prospects.
Key Points
- Snap reported better-than-expected revenue but declined to provide guidance due to macroeconomic uncertainties
- Snap shares plunged 13% in after-hours trading
- The company cited potential constraints on advertising demand as the reason for withholding guidance