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Actionable news in SNAP: Snap Inc,

Snap tumbles in choppy trading as user growth disappoints Wall Street — again

Snap has not snapped back.

The social media company reported worse-than-expected quarterly results on Thursday, with a loss that was steeper than expected and revenue that missed estimates, as it added fewer users than Wall Street anticipated.

Snap added 7 million daily users during the second quarter — a slower rate than the 8 million added in the first quarter. Shares fell more than 17 percent to around $11.40 a share in after-hours trading, below the all-time intraday low of $11.91 set during regular trading on Aug. 3.

  • Adjusted EPS: Loss of 16 cents per share vs. loss of 14 cents per share expected by a Thomson Reuters consensus estimate
  • Revenue: $181.7 million vs. $186.2 million expected by a Thomson Reuters consensus estimate

That's up 153 percent from revenue of $71.8 million in the year-ago period.

  • Daily active users (DAUs): 173 million vs. 175.2 million expected by a StreetAccount estimate
  • Average revenue per user (ARPU): $1.05 vs $1.07 expected by FactSet

Snap's second-ever quarterly report as a public company came at a crucial time for the owner of the ephemeral messaging app.

The company...


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