Snap stock sinks 12% after weak Q1 revenue view — buyback and ad demand in focus
Snap shares fell 12% to $5.21 after the company forecast first-quarter revenue below Wall Street estimates. The Snapchat owner reported a surprise profit and approved a $500 million buyback. Fourth-quarter revenue rose 10% to $1.716 billion, with net income at $45 million. Analyst reactions were mixed, with some raising and others cutting price targets.