executives decline to state a forecast for the first quarter which is likely to spook investors looking for a turnaround in the digitalads market snap inc stumbled through another bleak quarter to end 2022 and executives refused to provide guidance tuesday sending shares sliding in a potential barometer of whats to come from advertisingdependent internet companies snap snap on tuesday posted a loss of more than a quarterbillion dollars in the holiday quarter and declined to provide a forecast for the current quarter which is likely to rattle investors in meta platforms inc meta and alphabet incs googlgoogl google both of which report financial results later this week snapchats parent company reported fourthquarter revenue of 13 billion flat with a year ago the worst yearoveryear revenue growth snap has ever reported the company said it lost 2885 million or 18 cents a share compared with earnings of a penny a share last year analysts polled by factset had predicted revenue of 13 billion and a loss of 11 cents a share shares plunged more than 14 in afterhours trading immediately following the release of the results after closing with a 42 increase at 1156 their best closing price since november we continue to face significant headwinds as we look to accelerate revenue growth and we are making progress driving improved return on investment for advertisers and innovating to deepen the engagement of our community snap chief executive evan spiegel said in a statement announcing the results snap executives warned last year that marketers were lowering their budgets amid economic uncertainty after they laid off roughly 20 of employees in the summer months before other tech companies began cutting the deterioration in snaps business has been alarming with rev growth decelerating for 7 straight quarters to an estimated 0 in q4 from 116 in q221 jefferies analyst james heaney wrote in a note to clients this week the downturn in digital advertising as well as the threat from tiktok has contributed mightily to layoffs at snap meta and google that is why investors are eager to know where executives expect the industry to head in the coming months and year but snap executives declined to provide specific financial projections given uncertainties related to the operating environment we are not providing our expectations for revenue or adjusted ebitda for the first quarter of 2023 they wrote in tuesdays release shares of snap have sunk 66 over the past 12 months the broader sp 500 index is down 10 in the past year