Snap shares fell over 20% after reporting lower-than-expected third-quarter guidance, with revenue and earnings missing analyst estimates. The company cited investments in infrastructure, personnel, and marketing, as well as a growing legal and regulatory burden affecting its cost structure.
Snap reported a 16% rise in second-quarter sales to $1.24 billion but noted a weaker brand advertising environment for certain sectors. Monthly active users grew to 850 million, with more than 11 million Snapchat+ subscribers, showing growth in the community and advertising platform.
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