Snap Q3 earnings show weak revenue and user growth
The share price of Snap, the parent company of Snapchat, fell sharply yesterday as the company’s Q3 earnings report showed that revenue had come in way under expectations.
The company had been predicted to earn $237 million in revenue in the quarter, but actual earnings came in at $207.9 million. Snap also posted a big loss of $443 million, including a $40 million charge on unsold Spectacles hardware.
However, average revenue per user was up 39% when...