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Snap Stock Slides After Q2 Earnings and Capital Raise Announcement
Snap Stock Slides After Q2 Earnings and Capital Raise Announcement
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BTCCSquare news:
Snap Inc. shares tumbled nearly 17% this week following a lukewarm Q2 earnings report and plans for additional capital raising. The social media company posted $1.35 billion in revenue, a 9% year-over-year increase that matched growth in daily active users. However, net losses widened to $263 million amid stagnant average revenue per user metrics.
Management's Q3 guidance projects 476 million DAUs and revenue between $1.48-$1.5 billion, failing to inspire market confidence. The simultaneous announcement of new debt issuance compounded investor concerns about the company's growth trajectory and monetization challenges in the competitive social media landscape.
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