Following its second-quarter results, Snap's stock dropped over 20%, reflecting investor concerns after a revenue miss of $1.34 billion against expectations of $1.35 billion. Despite an increase in daily users to 469 million and a rise in monthly users to 932 million, Snap still reported a net loss of $262.6 million. The company saw free cash flow improve significantly to $23.8 million. Guidance for third-quarter sales met estimates but revealed ongoing challenges in profitability, leading to questions about the stock's future prospects.
Snap's stock has decreased more than 20% following a disappointing quarter, with revenue of $1.34 billion, a miss against analyst expectations of $1.35 billion.
Although user growth is encouraging with a 9% increase in daily users, Snap reported a net loss of $262.6 million for the quarter, highlighting ongoing profitability challenges.
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