Snap ‘Headwinds’ Warning Overshadows Video Progress

Snap is one of the first social media companies to report results, giving investors an early feel for how these advertising-supported businesses are faring. If it’s any guide, the future view was glum, overshadowing gains the company has made with video and subscriptions. 

The Snapchat parent company said Tuesday it couldn’t provide financial guidance for the second quarter due to uncertain “macro economic conditions” which could hurt demand for advertising. Snap also said it has experienced “headwinds” to start the current quarter.