Snapchat reported its third-quarter earnings on Thursday.
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Snap, the parent company of disappearing messaging app Snapchat, reported third-quarter revenue that missed Wall Street’s expectations on Thursday. At one point, Snap’s shares plunged nearly 25% in after-hours trading to $56.36 per share.
The company posted $1.07 billion in revenue in the third quarter, below the $1.1 billion forecasted by analysts surveyed by Thomson Reuters. Snap earned 17 cents per share, beating estimates of 8 cents per share.
Source CNET Tech
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