Advertising RevenueSnap's brand-oriented advertising revenue fell 1% YoY, driven by softness in discretionary verticals such as retail, technology, and entertainment.
CompetitionCompetition remains intense with Instagram, YouTube, and TikTok, which prompts a lowering of estimates and target price.
User EngagementSNAP 4Q UCAN total time spent remained soft and declined by 12% year over year.