The Snapchat maker's stock dropped by 30% in after-hours trading as investors reacted to Snap's underwhelming revenue figures, tepid user growth, and weak first-quarter guidance.
Though Snap still has traction with younger users - a recent study found it was kids' second most popular communication app, behind WhatsApp, and most popular by time spent - it has failed to grow to Meta's scale as it's not attracting adults the way that competitors like Facebook, Instagram and TikTok do.
[
add
]
[
|
|
...
]