Snap forecasts downbeat revenue as competition rises, shares tumble 22%
(Reuters) -Snap forecast current-quarter results below expectations on Thursday as the Snapchat owner grapples with stiff competition from larger rivals for advertising dollars in an uncertain economy, sending its shares down 22% after-market. Its biggest competitors – Facebook and Instagram parent Meta Platforms and Bytedance’s TikTok – far outrank it in terms of scale and …
Snap forecasts downbeat revenue as competition rises, shares tumble 22% Read More »