Revenue, which the company generates from selling advertising on Snapchat, rose 44% to $560.88 million, but missed the average analyst estimate of $563.03 million. The app faces tough competition from Alphabet Inc’s Google and Facebook , which command a huge portion of the digital advertising market. Snapchat has only 0.5% of worldwide digital ad revenue, while Facebook accounts for 21.1%, according to a report by market researcher eMarketer. …read more
Source:: Yahoo Finance
