Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo illustration by STR/NurPhoto via Getty Images

Snapchat's stock was down in after-hours trading Thursday, despite beating Wall Street expectations on user growth, as well as top and bottom lines.

Why it matters: The camera company warned investors that its forecast for this quarter would be lower than expected, in part due to a drop in advertiser demand in the two weeks following the Capitol siege, as well as upcoming Apple privacy changes.

Details: Like rival Facebook, Snapchat warned investors that Apple's upcoming iOS privacy changes "will present another risk of interruption to (advertiser) demand."

  • Snapchat, like Facebook, does have a number of app install advertisers.
  • Those two factors likely impacted the company's stock drop.

By the numbers, per CNBC:

  • Adjusted earnings per share: 9 cents vs. 7 cents per share forecast by Refinitiv
  • Revenue: $911 million vs. $857.4 million forecast by Refinitiv
  • Global daily active users (DAUs): 265 million vs. 257.79 million per FactSet
  • Average revenue per user (ARPU): $3.44 vs. $3.34 forecast by FactSet

Between the lines: Snapchat also said its new user generated video feature, Spotlight, saw 100 million monthly active users in January, suggesting that demand for the TikTok-style video trend can be replicated on other apps. Snapchat's user base is mostly under age 30.

  • In an effort to lure users to try the new feature, Snapchat said last quarter it will give away $1 million total to the creators of the top-performing videos on Spotlight each day for the remainder of 2020, and potentially beyond.

The big picture: Snapchat has been able to avoid most of the regulatory and industry pressure around privacy, in part due to the way it's been engineered and structured.

  • As Axios has previously noted, Snapchat had its best year in 2020, increasing its stock price from roughly $16 in January to more than $52 today.

Go deeper: Snapchat launches TikTok competitor Spotlight

Go deeper

Facebook's booming business, sinking reputation

Data: Company Filings; Chart: Axios Visuals

Facebook's business may be booming, but for the first time in the company's history, that doesn't seem to be enough to convince Wall Street its future is bright.

The big picture: Several Facebook executives have told Axios over the past year that big scandals — like the 2020 ad boycott, the Capitol siege, or the company's high-profile battle with Apple — have been the hardest challenges they've ever professionally faced. Now, Wall Street is having doubts, too.

Feb 3, 2021 - Technology

TikTok will prompt users when videos are flagged as misleading

TikTok

TikTok will begin asking users to seek credible information about a topic if they try to share a video that carries a misleading information label, the company announced Wednesday.

Why it matters: It's one of the most dramatic steps TikTok has taken to reduce the spread of misinformation on its platform.

Updated 2 hours ago - Energy & Environment

Thousands without power as "hazardous" winter storm lashes East Coast

Satellite imagery of the Northeastern U.S. taken by NOAA on Jan. 17. Photo: NOAA

A major winter storm lashed much of the East Coast Sunday and Monday, causing widespread power outages and disrupting travel over the holiday weekend.

The latest: Authorities in North Carolina confirmed that two people died in a car crash and that they responded 600 vehicle accidents during the storm on Sunday, per the Washington Post.