Shares of Snap Inc. slid in after-hours trade on Tuesday after the social-media platform forecast third-quarter sales that were below expectations.
Shares of Snap Inc. slid in after-hours trade Tuesday after the social-media platform forecast third-quarter sales that were below expectations, amid concerns about weaker digital advertising and the company’s efforts to spend more to improve its ad platform.
For the second quarter, Snap reported a net loss of $377 million, or 24 cents a share, compared with $422 million, or 26 cents a share, in the same quarter last year. Revenue fell to $1.07 billion, compared with $1.11 billion in the prior-year quarter.
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