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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。