Snapchat owner’s earnings fall short of predictions as it turns focus to user growth in ‘monetizable’ markets like North America and Europe
The owner of Snapchat narrowly missed Wall Street’s expectations as it continues to grapple with a slowdown in digital advertising. Shares in the social media company tumbled by nearly a third.
While Snap said it was “encouraged by the progress we are making”, it cited factors including the conflict in the Middle East, which knocked its business.
More Stories
KFC plans to invest £1.5bn in UK and Ireland, creating thousands of jobs
Leading tax expert calls out ‘confected outrage’ of wealthy Australians over Labor’s $3m super plan
Shein turns to Hong Kong for flotation as London attempt stalls, reports say