ADVERTISEMENT
ADVERTISEMENT

Snap crashes to a record low after its earnings disaster (SNAP)

Snap attributed its disappointing first-quarter revenue to the Snapchat redesign and warned that its growth rate will slow in the second quarter.

  • The company attributed its revenue miss to the Snapchat redesign.
  • It warned that its second-quarter growth rate will decelerate.

Snap shares are trading lower by 21% and at a record low Wednesday after a disastrous first-quarter earnings report. The stock hit $10.96 a share early Wednesday, slipping below its previous low of $11.28.

To make matters worse, Snap warned its growth trajectory will slow in the second quarter.

ADVERTISEMENT

"

Snap is now down about 24% this year.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

7 do's and don’ts of the Holy month of Ramadan

7 do's and don’ts of the Holy month of Ramadan

Top 5 sweetest celebrity mother-child relationships that stand out for us

Top 5 sweetest celebrity mother-child relationships that stand out for us

International Women's Day: 5 Nigerian female celebrities championing women’s rights

International Women's Day: 5 Nigerian female celebrities championing women’s rights

Top 5 female directors in Nollywood

Top 5 female directors in Nollywood

6 things that will break a Muslim's fast during Ramadan

6 things that will break a Muslim's fast during Ramadan

5 benefits of fasting during Ramadan

5 benefits of fasting during Ramadan

5 reasons Easter was more fun when we were children

5 reasons Easter was more fun when we were children

Dos and don’ts of supporting Muslims during Ramadan

Dos and don’ts of supporting Muslims during Ramadan

Here are common things people rarely dream about

Here are common things people rarely dream about

ADVERTISEMENT
ADVERTISEMENT