UPDATE: Snap (SNAP) warns for Q2

(Updated - May 23, 2022 5:11 PM EDT)

Snap (NYSE: SNAP) warns for Q2.

From the company: Since we issued guidance on April 21, 2022, the macroeconomic environment has deteriorated further and faster than anticipated. As a result, we believe it is likely that we will report revenue and adjusted EBITDA below the low end of our Q2 2022 guidance range. We remain excited about the long-term opportunity to grow our business. Our community continues to grow, and we continue to see strong engagement across Snapchat, and continue to see significant opportunities to grow our average revenue per user over the long term.

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