Snap shelves quarterly forecast as economic uncertainty risks ad budgets

Snap said on Tuesday it will not issue a formal second-quarter financial forecast citing economic uncertainty, as U.S. tariffs threaten to disrupt the global economy and digital advertising budgets. The Snapchat parent faced challenges at the start of the current quarter, even as it continued to diversify both its advertiser base with small- and medium-sized businesses and its revenue sources with the growth of its subscription service.

Economic uncertainty could trigger an ad spending shift to bigger rivals such as Facebook and Instagram owner Meta…