Snap shares plunge 25pc after-hours on earnings miss

SAN FRANCISCO, July 22 — Shares of Snapchat-parent Snap lost a quarter of their value in after-hours trades on Thursday following release of dismal quarterly earnings figures.

“We are also seeing increasing competition for advertising dollars that are now growing more slowly,” Snap said. “Our revenue growth has substantially slowed, and we are evolving our business and strategy to adapt.” The number of people using Snapchat daily grew 18 per cent to 347 million from the same quarter a year ago, Snap reported.

Snap in February reported its first quarterly profit, but two months later warned that it saw the economic outlook as having darkened considerably.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Snap shares plunge 25pc after-hours on earnings missSAN FRANCISCO, July 22 — Shares of Snapchat-parent Snap lost a quarter of their value in after-hours trades on Thursday following release of dismal quarterly earnings...
Source: malaymail - 🏆 1. / 86 Read more »

Snap shares plunge 25pc after-hours on earnings missSAN FRANCISCO, July 22 — Shares of Snapchat-parent Snap lost a quarter of their value in after-hours trades on Thursday following release of dismal quarterly earnings...
Source: malaymail - 🏆 1. / 86 Read more »

United Plantations’ shares up after posting positive earningsKUALA LUMPUR, July 21 ― United Plantations Bhd’s shares were up in the early trade after the group reported better earnings in the second quarter ended June 30, 2022 (Q2...
Source: malaymail - 🏆 1. / 86 Read more »