Snapchat’s 2017 ad revenue forecast is cut by $30m
Social media app Snapchat's 2017 ad revenue forecast has been cut to $770m – a reduction of $30m. This is due to higher than expected revenue-sharing with the app's partners. However, revenue grew by more than 157% over the past 12 months, nonetheless, the reduction may affect investors and share prices. The digital advertising market in the US is expected to hit $83bn this year, with social media giant Facebook enjoying a 20% share of the sector.
Snapchat’s forecast ad revenue for 2017 has been cut by $30m to $770m on the back of larger than expected revenue sharing with its partners, according to eMarketer.

Even with this small reduction the figures would still represent growth of more than 157% over the past year but is likely to weigh on investors nonetheless with its stock currently trading at $21 having reached as high as $27 per share.