Snapchat Parent’s Quarterly Sales Drop
Snap. Inc suffered its first quarterly sales drop and indicated a revenue rebound would be slow as the social-media company grapples with disruptions in the digital ad market.
Snap generated $988.6 million in revenue in the first quarter, a 7% drop from the year-ago figure, the company behind the popular social media app Snapchat said Thursday. The figure was short of what Wall Street expected, according to analysts surveyed by FactSet.
Snap. Inc suffered its first quarterly sales drop and indicated a revenue rebound would be slow as the social-media company grapples with disruptions in the digital ad market.
Snap generated $988.6 million in revenue in the first quarter, a 7% drop from the year-ago figure, the company behind the popular social media app Snapchat said Thursday. The figure was short of what Wall Street expected, according to analysts surveyed by FactSet.
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