Snap Stock Falls as Sales Growth Shrinks, Advertisers Cut Spending

Snapchat’s parent says it is operating on an assumption there will be no revenue growth in the current quarter. Read More...


Snap’s slowing ad growth sends inflation fears through tech sector

Snap Inc on Thursday forecast no revenue growth in the typically busy holiday quarter, sending a warning signal that rising inflation and the war in Ukraine could hurt other tech companies dependent on advertising revenue. Shares of Snap dropped 27% in after-hours trading. The owner of photo messaging app Snapchat is the first of the major tech firms to report quarterly earnings, and the results cast a shadow for other platforms that rely on advertising revenue such as Facebook owner Meta Platforms Inc, Alphabet’s Google and Pinterest, which report their results next week.

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