Snap Inc. shares plunged as much as 20% after the company said its quarterly loss more than tripled, disappointing Wall Street again as it failed to significantly grow the number of people using its app daily or the amount of money advertisers are spending to reach those users.
For its third straight quarterly report as a publicly traded company, Snap failed to live up to Wall Street’s forecasts for revenue. The results Tuesday marked the latest in a string of stumbles since Snap went public in March, in what was considered...
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