Snap Warns of Sales Drop After Revenue Growth Stalls

Snap stock plunges 15% as revenue growth stalls

By Clare Duffy, CNN Snapchat’s parent company reported stalled revenue growth and a large net loss for the final three months of 2022, as it confronts tighter advertiser budgets amid broader economic uncertainty. Snap’s quarterly revenue was just shy of $1.3 billion, essentially flat from the year prior. For the full year, Snap’s revenue grew 12%, a slower rate that the company attributed to “rapid deceleration in digital advertising growth.” Me…

Snap stock plunges 15% as revenue growth stalls

Snapchat's parent company reported stalled revenue growth and a large net loss for the final three months of 2022, as it confronts tighter advertiser budgets amid broader economic uncertainty.

Snap Warns of Sales Drop After Revenue Growth Stalls

Snapchat’s parent company is struggling to revive growth with the digital advertising market in upheaval