Snap Inc reported a first-quarter revenue of $1.36 billion, a 14% increase year-over-year, surpassing analyst expectations. Despite this growth, the company announced it will not provide guidance for Q2, citing potential revenue headwinds from advertiser concerns. Analysts have reacted by downgrading price targets, with RBC suggesting a target of $12 while Canaccord lowered its target to $9. Management highlighted challenges in specific regions, particularly in RoW and Europe, and noted ongoing macroeconomic pressures affecting advertisers.
Snap's Q1 revenue rose 14% to $1.36 billion, exceeding expectations, but the company will not provide Q2 guidance amid macro challenges.
Analysts have lowered price targets for Snap, with RBC maintaining a Sector Perform rating and highlighting the impact of regional weaknesses on growth.
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