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Investing.com -- Snap on Tuesday decided against offering guidance, warning of macro headwinds at the start of the current quarter that is expected to dent advertising demand in the months ahead.
Snap Inc (NYSE:SNAP) fell 13% in recent after-hours trading.
The company said it had "experienced headwinds to start the current quarter," and flagged the potential impact of economic uncertainty on advertising demand.
"Given the uncertainty with respect to how macro economic conditions may evolve in the months ahead, and how this may impact advertising demand more broadly, we do not intend to share formal financial guidance for Q2," Snap said on Tuesday.
For the three months ended Mar. 31, Snap reported a loss per diluted share of $0.08 on revenue of $1.36B, topping Wall Street estimates for a loss of $0.13 on revenue of $1.34B.
Daily Active Users increased 9% year-over-year to 460 million.