Snap misses revenue expectations, warns on second quarter outlook
Snap Inc missed analyst expectations for Q1 revenue due to changes in its advertising platform and warned Q2 results may fall below those anticipated by Wall Street. CEO Evan Spiegel said the company was testing sponsored links in text generated by Snap’s My AI chatbot. Despite the decline in revenue, daily active users on Snapchat rose 15% YoY to 383 million, in line with Wall Street predictions.
