Snapchat reported disappointing earnings results in Q1-2022, as well as disappointing forecasts.
Blame it on the..
Snapchat’s CEO attributed the disappointing quarter on macroeconomic conditions. This includes a reduction in advertisements due to the Russian-Ukrainian war. Other factors affecting advertisements include supply chain issues, shortage of labor, soaring inflation, & rising interest rates.
As for forecasts
Snapchat’s CFO expects the company to continue facing problems with reduced advertisements in Q2-2022, with revenue expected to rise between 20%-25% in the second quarter, versus analysts’ expectations of 28%.