Snap Plummets 22%

Benzinga
Benzinga
  • 3 years ago
Snap ($SNAP@US) stock fell 22% after reporting its third-quarter earnings yesterday. The company’s revenue missed Wall Street expectations after its advertising business was disrupted by privacy changes Apple ($AAPL@US) introduced earlier this year. Snap revenue came in at $1.07 billion versus the $1.10 billion forecasted by Refinitiv. Shares of social media rivals Facebook ($FB@US) and Twitter ($TWTR@US) were also each down nearly 7% in after-hours trading following the release of Snap’s third-quarter earnings.

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