Snap Shares Plunge As Q2 Earnings, Outlook Disappoint

Shares of Snapchat parent Snap fell sharply after market as earnings for the June quarter fell short of Wall Street estimates. Revenue of $1.24 billion was up 16$249 million from $377 million. Daily active users of 432 million were up 9%. “Our community grew to reach more than 850 million monthly active users in Q2, with more than 11 million Snapchat+ subscribers,” said CEO Evan Spiegel. “We continued to scale our advertising platf ...