Snapchat parent company Snap issued a warning on the advertising front today, saying that its “forward ad demand visibility” was limited in part by lower spending due to the war between Israel and Hamas.
“We had a number of primarily brand-focused campaigns that stopped spending in the first few days after war broke out in the Middle East,” Evan Spiegel, CEO of the social media platform, told analysts in ‘ a conference call after the financial year of the third quarter. results. This raises the question of what other media companies expect as revenue increases.
“I must say that we have restarted many of these campaigns and the impact on our daily fill rate has been significantly reduced. But we’ve also seen a small number of incremental campaign pauses recently.”
“If we look back historically, for example at what we all went through when war broke out in Ukraine and the impact it had on the economy and the work environment, we realize that war is fundamentally unpredictable.”
As a result, Snap did not provide formal financial guidance, but it did share an internal forecast for fourth-quarter revenue of $1.32 billion to $1.37 billion — an increase of 2% to 6% year over year .
Revenue for the three months ended September rose to $1.18 billion from $1.13 billion, after falling earlier in the year for the first time since its 2017 IPO.
Source: Deadline
Elizabeth Cabrera is an author and journalist who writes for The Fashion Vibes. With a talent for staying up-to-date on the latest news and trends, Elizabeth is dedicated to delivering informative and engaging articles that keep readers informed on the latest developments.
