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Evening Standard
Evening Standard
Business
City Staff

FTSE 100 Live: Snapchat warning hits shares, April UK borrowing at £18.6bn

SNAP Snapchat United Kingdom Economy United States

The owner of Snapchat added to US economy concerns last night by warning that it will miss earnings forecasts for the current quarter.

Snap’s shares plunged more than 30% in after-hours trading on Wall Street as the social media platform said the macroeconomic environment had “deteriorated further and faster than anticipated”. Facebook owner Meta Platforms was 7% lower and Twitter fell by 4%.

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