https://techcrunch.com/2023/04/27/snap-stock-down-24-on-weak-earnings-ad-revenue-slump/

Snap, the parent company of Snapchat, has seen its stock tumble 20% in after-hours trading after reporting first-quarter earnings Thursday.

The company missed Wall Street revenue estimates of $1 billion, closing out the quarter with $989 million. That’s down 7% from the same period last year, and it represents the first time since Snap went public that revenue fell.