Snap, parent company to the messaging app Snapchat, is bracing for the impact of the war in the Middle East. The technology company posted its third-quarter earnings on Tuesday afternoon, but it did not provide guidance for the following quarter, saying, “Due to the unpredictable nature of war, we believe it would be imprudent to provide formal guidance for Q4.”
Immediately following the release of its earnings report, Snap’s shares briefly jumped from $9.70 per share at market close to a high of $10.91 and then a low of $9.30 in after-hours trading. As the market digested the firm’s earnings and (lack of) guidance, Snap shares largely recovered to $9.65.
