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Snap Flunks Its Third Quarter Earnings Test

Snap Flunks Its Third Quarter Earnings Test

Shares of Snap fell by 20 percent in after-hours trading. This was the third quarterly report from Snap since its IPO and the third time that it came up short of Wall Street’s expectations. Snap reported that daily active users grew by 3 million in the third-quarter, a number far short of what many analysts expected. Analysts had forecast the company would add close to 9 million new users, for growth of around 5 percent. Snap reports revenue of $207.9 million, below the $235.5 million ana…
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