Snap Q1 Earnings: Investors Brace for Revenue Impact.

Snap missed revenue expectations in its Q1 earnings report, causing shares to drop more than 20%. The company has been struggling with a decline in advertiser spending, leading to a decrease in average revenue per user. Snap introduced Snapchat+ to diversify revenue streams, but the majority of revenue still comes from advertising. In contrast, rival Meta beat expectations and reported a return to revenue growth after eliminating 21,000 positions.