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- Snap tumbled 11% on Wednesday after posting weak quarterly results.
- The social media company also warned first-quarter revenue could drop up to 10% compared to the year prior.
- In a note to clients, a Jefferies analyst warns that Snap's problems are only "intensifying."
Snap stock plunged 11% on Wednesday after the social media company posted it slowest rate of quarterly growth ever.
The Snapchat parent's fourth-quarter revenue of $1.3 billion was essentially flat from the year before and below analysts' estimates of $1.31 billion. Snap recorded 373 million global daily active users versus estimates of 375.3 million.
A lot companies had to slash digital advertising budgets amid a slowing economy last year, resulting in big hits for social media platforms like Snap.