Snap spooks investors with talk of ‘headwinds’

Snap has seen its share price drop by 14% overnight after the company informed investors of headwinds from an uncertain advertising climate during its first-quarter earnings call.

Snap declined to offer formal financial guidance for the current quarter in its investor report, citing “uncertainty with respect to how macro economic conditions may evolve in the months ahead, and how this may impact advertising demand more broadly.”

“We believe it is prudent to continue to balance our level of investment with realised revenue growth.”