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Quick Tech News


by Alexander Fäh

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Snap delivers weak revenue figures

Snap delivered weak revenue numbers in the latest quarter due to a decline in other companies' spending on online advertising.

Weak revenue figures in the last quarter; Image: RealMoney - TheStreet

Snap delivered a slight increase for last year's revenue, $1.3 billion was reported, expected $1.31 billion. For the coming year, the company expects revenue to decline by 2-10%.

The reason for the company's stagnant growth was a slower economy, according to an investor letter. This has led to companies cutting advertising spending on the platform. Apple's iOS privacy update limits personalized ad serving, hurting Snap as well.


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