Advertising RevenueSoftness in brand advertising was the primary driver of the slower growth in North America, as certain verticals like tech, entertainment, and retail remain weak.
Revenue GrowthSentiment toward SNAP remains negative, largely due to volatile fundamentals and revenue growth below social media peers.
User EngagementMuted user and engagement trends in North America and the relative attractiveness of larger digital ad platforms to advertisers potentially limit visibility around more robust advertising revenue growth in the near term.