Snap reported better-than-expected revenue Tuesday but declined to provide guidance, citing macroeconomic uncertainties. Derek Andersen, Snap’s finance chief, said during an earnings call that some advertisers have reported an impact from changes to the de minimis exemption that is scheduled to end May 2. Sales in Snap’s first quarter jumped 14% to $1.36 billion from $1.19 billion in the year-ago period. Snap CEO Evan Spiegel speaks during the Semafor World Economy Summit 2025 at Conrad Washington in Washington, D.C., on April 23, 2025. Kayla Bartkowski | Getty Images
Snap reported better-than-expected first-quarter revenue Tuesday but declined to provide guidance, citing macroeconomic uncertainties that could weigh on advertising demand.
Shares dropped 13% in after-hours trading.
Here is how the company did compared with Wall Street’s expectations:
Earnings per share: Loss of 8 cents. That figure is not comparable to analysts’ estimates. Revenue: $1.36 billion vs. $1.35 billion expected, according to LSEG Global daily active users: 460 million vs. 459 million expected, according to StreetAccount Global average revenue per user: $2.96 vs. $2.93 expected, according to StreetAccount