Snap warned that it will report second-quarter revenue and profits below what it projected just a few weeks ago, blaming a faster than expected deterioration in macroeconomic conditions. Snap stock fell 28% to just above $16, its lowest since the spring of 2020. Snap’s warning, made in a securities filing, is likely to fuel uncertainty about how the economy is affecting digital ad companies....
Snap Warns That Q2 Performance Will be Worst Than Expected
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