Snap is plunging after missing on earnings


Snap shares are pluning after the company released its second quarter earnings report, trading down about 13%.

The company reported an adjusted loss of $0.16 a share, a penny below what Wall Street was anticipating. Revenue was also light, coming in at $181.7 million, well shy of the $189 million that was anticipated.

Another number investors were paying keen attention to was the size of the company’s user base. That number was reported at 173 million daily active users, which was below the 175 million estimate.

Snap is down 26.47% since its initial public offering, not including Thursday’s after hours plunge.

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Markets Insider