Following yet another disappointing earnings report, Snap's shares fell 14%, dipping below $12. The company reported just $181.7 million in revenue, missing its forecasted $186.2 million. And it had a loss of 16 cents per share, above the 14 cents per share that investors expected.
It was only able to add 7 million daily users during the quarter, whereas it added 8 million in Q1. That kind of growth and a disappointing revenue level aren't helping the perception of Snap as a stable, growing company.
Snap has largely been on a downward trend since its IPO, which saw the company launch at $17.
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