Snap's stock took a significant hit, dropping over 13% after the company announced it would not provide its usual sales guidance for the upcoming quarter, due to macroeconomic uncertainties surrounding President Trump's trade policy. While Snap reported a smaller-than-expected loss of 8 cents per share with revenues of $1.36 billion, which exceeded analysts' predictions, investor concerns centered around fluctuating advertising demand amid potential tariffs and competition with TikTok. The company's daily active users increased by 9% year-over-year, but fears over spending cuts in advertising persist.
Snap's stock fell over 13% after the company refrained from giving sales guidance for the next quarter, citing macroeconomic uncertainties affecting advertising demand.
The company reported a loss of 8 cents per share on $1.36 billion in sales for Q1, higher than expected, yet investors remain skeptical due to economic instability.
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