"Snap's first-quarter sales rose 12% year-over-year while its net loss was $89 million, representing a narrowing of 36% from the $139.6 million it logged the previous year."
"In Q1, we returned to growth in daily active users, accelerated revenue growth, expanded margins, and generated strong free cash flow, Snap CEO Evan Spiegel said in a statement."
Snap Inc. experienced a 4% drop in shares after reporting a first-quarter net loss of $89 million, despite a 12% year-over-year revenue increase to $1.53 billion. Global daily active users rose to 483 million, surpassing expectations. The company noted challenges with large advertisers in North America but indicated signs of improvement. Snap's second-quarter sales guidance is projected between $1.52 billion and $1.55 billion, reflecting cautious optimism about future growth.
Read at www.cnbc.com
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