Snap swings to quarterly net loss, expects lower Q1 rev; shares fall

Snap swings to quarterly net loss, expects lower Q1 rev; shares fall

The owner of photo messaging app Snapchat is the first of the major digital advertising platforms to report fourth-quarter results, which provides an early clue for platforms like Facebook owner Meta Platforms Inc and Alphabet's Google when they report results later this week.

Snap shares fall as it posts fourth quarter net loss, expects lower first quarter revenue

Snap revenue for the fourth quarter ended Dec. 31 was $1.3 billion, flat from the prior-year and in line with analyst expectations

Snap swings to quarterly net loss, expects lower Q1 rev; shares fall

Snap Inc on Tuesday said current quarter revenue could decline by as much as 10%, sending its shares down 14% as the company struggles with weak advertising demand.

Snap swings to quarterly net loss, expects lower Q1 rev; shares fall

:Snap Inc on Tuesday swung to a net loss in the fourth quarter and said revenue could decline in the current quarter by as much as 10 per cent as it faces fierce competition from rivals like TikTok and weak advertising demand.Shares of Snap fell 13 per cent to $10.30 in trading after the bell. Meta shares fel