“Snap stock closes down 34% after company’s revenue miss and weak guidance”
February 12, 2024
“…
- Snap shares closed down more than 34% a day after the social media company missed revenue estimates and issued light guidance in its fiscal fourth-quarter earnings report.
- The results marked the company’s sixth straight quarter of single-digit growth or sales declines. Snap forecast that its growth would gain momentum in the first quarter but not as swiftly as analysts expected.
- The company is struggling with a slower rebound from a tough 2022 advertising market compared to other firms such as Meta.
…”
https://www.cnbc.com/2024/02/07/snap-stock-drops-30percent-after-revenue-miss-and-weak-guidance.html