Snap drops 30% after revenue miss, weak guidance, show advertising struggles

Evan Spiegel, CEO of Snap Inc., speaks onstage during the Snap Partner Summit 2023 at Barker Hangar on April 19, 2023 in Santa Monica, California.Snap shares tanked 30% in Wednesday morning trading, a day after missing revenue estimates and issuing light guidance in its fiscal fourth-quarter earnings report. The company is struggling with a slower rebound from a tough 2022 advertising market than other firms like Meta.Snap is headed for one of its worst days on the market since its debut seven years ago. It ...