"You may be wondering why, with all of the progress we've made in our business over the last year, our share price performance has lagged the overall market. The answer is simple: our advertising business is growing slower than our competitors."
"We are investing in creating augmented reality glasses that allow people to interact with computing, the world, and one another in totally new ways."
Snap is now expected to report fiscal 2024 revenue of $5.34 billion, as per LSEG data, indicating a strategic shift in enhancing advertising and augmented reality services.
Despite a rise in daily active users by 9%, Snap reported disappointing second-quarter earnings, leading to several analysts revising their forecasts downward due to weak sales.
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