Owner of Snapchat talks of ‘incredibly challenging’ conditions as it seeks new sources of revenue
Shares in Snapchat’s parent company have fallen 25% after it confirmed investors’ fears of a slowdown in advertising revenue for social media firms.
Snap painted a grim picture of the effects of a weakening economy on social media in quarterly results on Thursday and declined to make a revenue forecast in “incredibly challenging” conditions, hitting its share price in after hours trading and setting off a chain reaction among listed rivals.
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Owner of Snapchat talks of ‘incredibly challenging’ conditions as it seeks new sources of revenue
Shares in Snapchat’s parent company have fallen 25% after it confirmed investors’ fears of a slowdown in advertising revenue for social media firms.
Snap painted a grim picture of the effects of a weakening economy on social media in quarterly results on Thursday and declined to make a revenue forecast in “incredibly challenging” conditions, hitting its share price in after hours trading and setting off a chain reaction among listed rivals. Continue reading…Technology | The Guardian