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Snap Stock: Bear vs. Bull

TheMotleyFool

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Snap's (NYSE: SNAP) stock recently dropped below its IPO price of $17 after it unexpectedly cut its second-quarter guidance on May 24.

In its first-quarter earnings report on April 21, Snap had predicted its revenue would rise 20% to 25% year-over-year in the second quarter, and that its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) would decline 57% to 100%.

That outlook was already grim, but Snap now expects both its revenue and adjusted EBITDA to miss the lowest end of that guidance. Snap blamed that downward revision on the "macroeconomic environment," which "deteriorated further and faster than anticipated."

Source Fool.com

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