Snap Stock Plunges 35% After Disappointing Holiday Sales
TL;DR Summary
Snap Inc. shares plunged by the most in over a year after reporting lower-than-expected revenue growth during the holiday season, leading to a 32% drop in stock value. The company's full-year revenue growth remained flat, reflecting a challenging operating environment, and it projected a loss in adjusted earnings for the current period. Despite efforts to restructure and improve ad targeting, Snap continues to face challenges from Apple's privacy changes and geopolitical headwinds. The company is focusing on user growth and engagement in its most monetizable regions, with a shift towards prioritizing North America and Europe.
- Snap shares see biggest drop in a year after holiday sales disappoint Los Angeles Times
- Snap shares drop 35% after company's revenue miss and weak guidance CNBC
- Snapchat's parent company's stock plunges 35% Quartz
- Snapchat Founders Lose Billions As Stock Crashes Forbes
- Snap’s stock implosion after big rally may capture ‘the definition of insanity’ MarketWatch
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
3 min
vs 4 min read
Condensed
84%
608 → 95 words
Want the full story? Read the original article
Read on Los Angeles Times