Snapchat Misses Already Lowered Q2 Expectations, Stock Plummets
that it expected to miss Q2 revenue and earnings guidance provided one month earlier, saying “the macroeconomic environment has deteriorated further and faster than anticipated.”
Snap previously called out factors that it expected to depress ad revenue in Q2, including “inflationary pressures and the impact of rising interest rates” as well as the ongoing impact of Apple’s iOS privacy update that requires users to double opt-in to allow ad tracking.
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