"Shares in Snap Inc. dropped by over 13% after the company declined to provide future guidance with its quarterly earnings report citing macroeconomic uncertainties."
"For the first quarter, Snap reported a narrower adjusted loss of eight cents per share and revenue of $1.363 billion, besting analyst expectations."
"Over 10,000 Lenses created using Snap's Easy Lens tool generated over 2 billion impressions, showcasing significant user-engagement growth and AR capability."
"CEO Evan Spiegel highlighted the milestone of reaching over 900 million monthly active users, emphasizing community growth as pivotal to future success."
Snap Inc. experienced a significant decline in share prices over 13% after declining to provide future guidance during its quarterly earnings report. Despite this, the company reported an adjusted loss of eight cents per share and revenue growth of 14% year-over-year, reaching $1.363 billion. The results surpassed analyst expectations. Notably, Snap's monthly active users surpassed 900 million, up 9% from the previous year, highlighting a robust advertising growth of 60% as well as a surge in augmented reality engagement through tools like Easy Lens.
Read at SiliconANGLE
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