Snap records slowest revenue growth in over a year amid tough competition for ads
Briefly

Snap reported an 8.1% revenue increase to $1.34 billion in the second quarter, the slowest growth in over a year due to heightened competition from bigger rivals like Meta. The company experienced a 15% decrease in shares following these results. Factors impacting revenue included adjustments to the ad platform, the timing of Ramadan, and regulatory changes. Snap's advertising strategy, particularly with Sponsored Snaps, is aimed at driving user engagement. Subscription service Snapchat+ grew significantly, contributing to revenue diversification.
Snap's second-quarter revenue growth of 8.1% to $1.34 billion was the slowest in over a year, indicating intensified competition from larger rivals like Meta.
The company experienced a decline in shares by 15% post-results, driven by changes to its ad platform and external factors such as timing of Ramadan.
Read at Yahoo Finance
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