By Angela Palumbo
Snap stock was falling after the social media company reported a narrower first-quarter loss than Wall Street expected, but withheld second-quarter guidance.
Snap reported a first-quarter loss of 8 cents a share on revenue of $1.36 billion. Analysts surveyed by FactSet expected the Snapchat parent to report a loss of 13 cents a share on revenue of $1.35 billion.
In the same period last year, Snap reported a loss of 19 cents a share on revenue of $1.19 billion.
Daily active users of 460 million in the quarter also just beat analyst estimates of 459 million.
Snap said in its letter to shareholders on Tuesday that it doesn't intend to share formal second-quarter guidance "given the uncertainty with respect to how macro economic conditions may evolve in the months ahead."
"While our topline revenue has continued to grow, we have experienced headwinds to start the current quarter, and we believe it is prudent to continue to balance our level of investment with realized revenue growth, " the company said.
Shares of Snap were falling 8.8% ion after-hours trading following the earnings release.
Write to Angela Palumbo at angela.palumbo@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
April 29, 2025 16:19 ET (20:19 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。