Snap plunges 13% on 'headwinds' to start quarter, inability to offer guidance

Snap CEO Evan Spiegel speaks during the Semafor World Economy Summit 2025 at Conrad Washington in Washington, D.C., on April 23, 2025. "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 in a letter to investors . Analysts had expected $1.39 billion in second-quarter revenue guidance. The company said it expects daily active users to come in near the midpoint of its second-quarter range at 468 million. Snap did not offer an outlook for the second quarter, citing uncertainties surrounding "how macro economic conditions may evolve in the months ahead, and how this may impact advertising demand more broadly." Here is how the company did compared with Wall Street's expectations: Snap reported better-than-expected first-quarter revenue Tuesday but declined to provide guidance, citing macroeconomic uncertain ... Read full article.