Lates News

Snap (SNAP.US) fell more than 16.7% to $7.57. On the news front, Snap reported first-quarter revenue of $1.36 billion, slightly higher than analysts' average expectation of $1.35 billion; net losses were $140 million, more than half reduced from the same period last year. The company withdrew its revenue guidance for the second quarter citing economic fluctuations caused by tariff policies impacting advertising demand. The company also lowered its target for full-year adjusted operating expenses from $2.65 to $2.7 billion, down $50 million.