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Snap shares hit record low as user growth miss unnerves investors

FILE PHOTO: The logo of messaging app Snapchat is seen at a booth at TechFair LA, a technology job fair, in Los Angeles, California, U.S., January 26, 2017.

(Reuters) - Snap Inc's (SNAP.N) shares fell more than 14 percent to hit a record low on Friday morning after messaging app Snapchat's daily active user growth missed expectations for the second quarter in a row.

Snapchat's second-quarter daily active users rose 21 percent to 173 million from an year earlier, falling short of the 175.2 million expected by analysts, according to financial data analytics firm FactSet.

In comparison, Snapchat's main rival Instagram Stories, where users and businesses can post a string of photos and videos that disappear after 24 hours, had...


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