Snap Inc. saw shares plummet in after-hours trading after reporting a loss in the latest quarter and forecasting lower first-quarter revenue.

San Francisco

Snap stock tanks after announcing quarterly loss

Let's get you. An awning alert, this one coming from Snapchatting me now shouldn't exist in Europe. Where did Michelle Casteel ago? Michelle has. Tanking in the after-hours down 13%, what's the latest on these results? Kristen? Yes, we thought you actually down your 14% at one point while snap did beat on earnings per share of $0.14 out and adjusted basis. They had a slight Miss and revenue at 1.3 billion vs the streets estimate of 1.31 billion. And that I think is what it's concerning investors. The idea that the advertising Market which people were already concerned about slowing is Flowing even faster than people are expecting for the third straight quarter in a row snap. Also failed to provide any guidance of for our forecast, we do know that internal companies of analyst estimates are expecting, q1, Revenue, drop to 10%, and they are expecting. Q1 Revenue to hit like 1.08 billion. So it isn't really great news. Just help me out here looking at the next social media companies to report later this week, we have Facebook and then of course, we're going to hear it from other advertising Reliant companies like alphabet coming up. One thing we really should keep an eye on is the fact that they are hitting those daily active user numbers, but if the money isn't coming in from those brand Partners, it doesn't mean much. So while they did beat on estimates, there are they still haven't found a way to monetize than you people who are coming in, their major is social media companies. Because a lot of is troubles, you kind of seemed, I just kind of isolated to snap. Yes industry Trends are part of it, but obviously this company about six months ahead of the other major Tech layoffs that we've seen, how would you compare snap the situation? It to the other social media apps. Of course, that will be covering this week. We know, snap is unique in a sense that they're mostly a messaging app. So a lot of the negative continent you see across different platforms, some of the concerns that people have had over Instagram. They don't really have those issues that they're facing, so they were a little bit insulated from that. That being said, they are facing a lot of issues of a lot of social media. They were the first ones to report that Apple's privacy changes. We're going to affect their data collection processes, which affect how they can report ad-tracking. They were very negatively affected by that on top of that, they seem more competitors is considered more in that experimental budget meeting that they're not necessarily A must-buy. For most brands that means are competing against companies are very fuzzy. Like Tik Tok. Even though they're facing scrutiny, they are checking more of those a dollar. They compete against Pinterest, a lot of space. And while there is a lot of money to be had with a lot of different by the app out there, and snap has lost a little bit of that luster. For the past few years. Now, the layoffs are affecting them. They didn't mark that they were about 20% down from about this time. A year ago, it is something that is affecting all social media, a lot of people hired up during the pandemic and people are paring down. But with Revenue, missing at this point, it does seem that a lot of these tech companies are bracing for tough times ahead. I can just see if we have enough time just to anything to that. We can glean in terms of the outlook for the advertising space because one thing that we do is overall growth does Drive stock market, and advertising dollars are pretty much directly correlated to economic growth. What's the Outlook that you heard from industry? Insiders who know the first thing I did speak to a few CMOS. They did mention that they thought that this time with a good time to start investing, Shilling to bring up that brand awareness, because they don't want to be left behind after. Recession. But overall the consensus is tight in those budgets and unfortunate. That comes a lot from the advertising space. I think this is something that the street was expecting but they weren't expecting it at this rate. At the idea that they really are not getting as much as us, like Snap are not getting as much revenue. As people are expecting this only spells bad news for companies like that's reporting there this week. Alphabet in a lot of those big social media stocks, cuz if the little guys are being hurt and I hate calling snap a little guy, but if there's a scene that there impacted its can't look good for the bigger companies are good report later the great break down as always. Michelle. Thank you. Michelle joints in studio.

World Athletics has banned transgender women from competing in elite female competitions and tightened testosterone restrictions for other athletes, the governing body said. President Sebastian Coe said that the decision to exclude women who had gone through what he called male puberty was based on what he said was "the overarching need to protect the female category."

Monaco City

World Athletics bans transgender women

Volodymyr Zelenskyy has made a rare and defiant trip near the front line to personally thank soldiers that have been defending the devastated Eastern city of Bakhmut. It came as Russian missiles hit a residential building in Zaporizhzhia, killing at least one person and injuring more than 30 others.

Bakhmut

Ukraine Invasion

Zelenskyy's morale-boosting visit to Bakhmut

Tiktok Chief Executive Officer Shou Chew says the social media platform has not spied on Americans. He testifies before the US House Energy and Commerce Committee in Washington. 

Capitol Hill

Defiant TikTok CEO faces Congress grilling

French workers angry with a rise in the pension age blocked access to a terminal at Paris' Roissy-Charles De Gaulle airport on Thursday as part of a nationwide day of protests, forcing some travellers to get there on foot. Train services were disrupted and some schools shut while garbage piled up on the streets.

Paris Charles de Gaulle Airport

Protesters block access to Paris Airport

A group of TikTok content creators descended on the US Capitol Wednesday to protest against calls for a ban on the popular Chinese-owned video-sharing app, amid fears that it presents a national security threat.

Washington

TikTok creators protest looming U.S ban

New research published in the journal Current Biology uses DNA sequencing to uncover that the great composer did not die from lead poisoning after all...

Bonn

Scientists uncover cause of Beethoven's death

Australian Prime Minister Anthony Albanese fought back tears on Thursday as he revealed the question the government wants to ask in a referendum on whether to recognise Aboriginal and Torres Strait Islanders in the country's constitution. 

Canberra

Australia set to vote on indigenous referendum

Pakistan's former Prime Minister Imran Khan says it is only a matter of time before he is imprisoned or killed. He made the remarks in an online post, in which he spoke out against the government and the military. The Lahore district administration has granted permission to Pakistan Tehreek-e-Insaf (PTI) to hold a rally at Minar Pakistan between the night of the 25th and 26th of March.

Lahore

Imran Khan warns 'matter of time' before his murder

The United States Federal Reserve has announced its latest interest rate hike, a move aimed at lowering inflation by making borrowing more expensive for consumers. The increase of a quarter of a percentage point on Wednesday sets the US central bank’s benchmark overnight interest rate in the 4.75 to 5 percent range, its highest level in 15 years.

Wall Street

U.S interest rates hiked again

Former U.K. prime minister Boris Johnson clashed with MPs at a hearing over parties held at Downing Street while the rest of the country was in lockdown. The scandal, which drove Johnson out of the prime minister’s office, could now get him booted from Parliament.

London

Boris Johnson grilled over Partygate

Seventeen Ukrainian children who were sent to camps in Crimea by Russian officials were reunited with their families in Kyiv today. They are among thousands who were transferred to Russia or the regions it occupies. It follows charges laid against Vladimir Putin over the alleged kidnappings levelled by the International Criminal Court.

Kyiv

Children 'taken' by Russia returned

The House of Commons voted 515-29 to back a key portion of The Windsor Framework, designed to resolve a trade dispute between the UK and Northern Ireland.

Westminster

Sunak's Brexit deal clears Commons vote

Two Defence Force personnel have been injured after an Australian Army helicopter crashed into the water during routine counterterrorism training on New South Wales south coast. There were 10 personnel on board the aircraft when the incident occurred and all have been recovered from the water. Chief of Army Lieutenant General Simon Stuart says the incident had the potential to end in "tragedy".

Jervis Bay

Two army personnel injured in helicopter crash

Emmanuel Macron has defended his Government's decision to force the controversial pension reforms through Parliament during a rare national 
television address, designed to quell the violent protests that have gripped the country. The French President condemning the violence, saying he had 'no regrets' despite facing multiple no-confidence motions.

Paris

'No regrets': Macron defiance amid protests

Former British Prime Minister Boris Johnson insists he did not lie to lawmakers, defending himself at a parliamentary hearing as part of a probe into whether he misled lawmakers over rule-breaking Covid-19 lockdown parties. Johnson faced a grilling before a cross-party committee that has the powers to suspend the MP and force a by-election in his London seat.

'Hand on heart': Boris denies lying

Stocks on Wall Street have climbed after the rescue of Credit Suisse calmed nerves about a larger banking crisis. The United States treasury secretary, Janet Yellen, says the local financial sector is stabilising after it was put to the test by the collapse of two banks this month. But the world's largest economy is still facing some strong headwinds.

Banking Crisis

U.S bank failures 'very different' from 2008

Xi Jinping and Vladimir Putin stress that'“responsible dialogue' is the best way to resolve the Ukraine crisis as Moscow reaffirms its commitment to peace negotiations. The Chinese leader says Beijing has an “impartial position” on the conflict in Ukraine and supports peace as Putin says China’s peace proposals could be used as the basis for talks.

Moscow

Xi's trip to Russia: A boost for Putin

A Virginia grand jury formally indicted 10 people, including police officers and hospital workers, over the death of Irvo Otieno - a Black man who was restrained before he died in a mental health facility. His family demanded justice and mental health reform. 

Richmond

Video shows police 'piling on' man before his death

Lawyers for Fox Corp faced a sceptical judge on Tuesday (March 21) as they sought to block a $1.6 billion defamation lawsuit by Dominion Voting Systems from going to trial, while the voting-technology company accused Fox News of knowingly airing vote-rigging claims that the network knew were false.

Delaware

Fox News fights to avoid trial by jury

Russian President Vladimir Putin said Tuesday a Chinese peace plan could provide a basis for a settlement of the fighting in Ukraine when the West is ready for it. Speaking after talks with Chinese leader Xi Jinping, Putin charged that Ukraine’s Western allies so far have shown no interest in that.

Russian Sanctions

Putin: Ukraine 'doesn't want' peace

Former British Prime Minister Boris Johnson is battling for his political future as he tries to convince a cross-party committee that he 'unintentionally' misled Parliament over the Partygate scandal. If the committee decides he 'recklessly' misled MPs, he faces a suspension from Parliament that could force a by-election in his West London seat.

Boris Johnson in trouble again

A magnitude 6.5 earthquake was felt across huge swathes of Afghanistan, Pakistan, and parts of India on Tuesday night, forcing people to spend the night outside.

Islamabad

Deadly earthquake rocks Pakistan, Afghanistan

Japanese Prime Minister Fumio Kishida has offered strong support to Ukraine during a visit to Kyiv, inviting President Volodymyr Zelenskiy to the G-7 Summit in May.

In Kyiv, Japan's Kishida backs Ukraine

Russian President Vladimir Putin and Chinese leader Xi Jinping discussed Beijing's proposal for a ceasefire in Ukraine in talks in Moscow, while displaying a warm friendship forged on a mutual rivalry with the West. China has refrained from condemning Russia or referring to Moscow's intervention in its neighbor as an "invasion". It has also criticized Western sanctions on Russia.

Xi urges Ukraine ceasefire during Putin talks

The NATO Secretary General said China needs to "understand Ukraine's perspective" and engage with President Volodymyr Zelenskyy.

China 'must condemn' Russian aggression; NATO

Russian authorities on Tuesday detained human rights activists including members of the Nobel-winning Memorial organisation after raids on homes and offices, sparking an outcry among the international human rights community. 

Tsentralnyy administrativnyy okrug

Russian Police raid homes of Nobel Prize winners

Protesters are trying to pressure lawmakers to bring down the government and doom the unpopular retirement age increase President Macronis trying to impose without a vote in the National Assembly.

Protestors rally as Macron survives no-confidence vote

U.S. President Joe Biden signed a bill that requires declassification of information related to the origins of the coronavirus that causes COVID-19. Whether the pandemic was the result of a lab leak from China's Wuhan Institute of Virology, or jumped from animals to humans at a Wuhan market remains a hotly contested debate. China has said there is no credibility behind the lab leak theory.

Wuhan

Biden orders release of COVID intelligence

Russia has opened its own criminal investigation into the International Criminal Court's (ICC) prosecutor and judges. Russia’s Investigative Committee says the ICC has knowingly accused an innocent person of a crime, in another show of defiance against the court.

Russia retaliates after Putin arrest warrant

A damning report by an independent member of Britain's House of Lords has found that London's Metropolitan Police force is institutionally racist, sexist, and homophobic. In her report, Louise Casey says officers are not properly vetted and calls for wide-ranging reform.