Snap stocks tumble amid fears over company’s growth

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.

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