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Snap Reports Sharp Revenue Slowdown, Shares Plunge

By
Stephen Council
· · Source: The Information

Expectations for Snap Inc.’s second quarter were low. The reality was even worse. The Snapchat owner posted its worst revenue growth since going public in 2017 thanks to mounting competition and slower ad spending. Snap shares plunged 26% in after-hours trading. The company is the first big social media company to report results this quarter, and the stock prices of digital-ad-dependent Meta...

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