:Snap Inc reported better-than-expected first-quarter user growth on Thursday while it missed expectations on revenue, as the parent company of Snapchat said supply-chain disruptions and the invasion of Ukraine hurt advertising demand.The company warned that inflation, labor shortages and other economic challenges may continue and predicted its revenue growth rate in the second quarter could be hurt.
The Santa Monica, California-based company is the first of the major tech apps to report first-quarter earnings, and the results could cast a shadow over Facebook owner Meta Platforms Inc and Twitter Inc, which also earn revenue by selling digital advertising and will report results next week. While the majority of advertisers resumed their campaigns, many remained concerned about inflation and continuing geopolitical risk, he said.