Earnings Results: Snap stock sinks more than 20% on revenue miss

by | Apr 27, 2023 | Stock Market

Snap Inc.’s stock plunged more than 20% in extended trading Thursday after the social-media company reported a decline in revenue as it retools its ad platform. Revenue dropped 7% to $988.6 million, from $1.06 billion a year ago. Analysts surveyed by FactSet had expected on average a net loss of a penny a share on revenue of $1 billion. Sales…

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