Shares in Snap Inc. (SNAP) dropped over 6% in extended market trading after its second-quarter loss widened and user growth figures disappointed.The stock declined to $23.17 in Tuesday’s after-market trading. Snap reported a net loss of $326 million, or 23 cents per share, in the quarter ended June, widening from $255.2 million, or 19 cents per share, in the year-earlier period. Meanwhile, total revenue increased 17% to $454 million during the reported period.Daily active users (DAUs), a widely followed metric by investors and advertisers, increased 17% to 238 million in the second quarter year-on-year but fell short of analysts’ expectations …read more
Source:: Yahoo Finance
