- Snap beat on both the top and bottom lines in the second quarter, but
- admitted its daily active users dropped.
- Watch Snap trade in real-time here.
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Snap is trading at a 3-month low (SNAP)
Snap shares are closing in on their record low.
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reported a loss of $0.27 a share on revenue of $262 million in the second quarter. After adjusting for pre-tax gains, the loss per share was $0.14. Snap also said that its daily active users decreased 2% to 188 million in second quarter, its comparing to 191 million in previous quarter.
Tuesday's selling has shares on track to snap their mini two-day winning streak. The social-media company was able to post a gain of 1.5% on Friday — after Bloomberg profiled CEO Evan Spiegel said he was making an effort to be more personable with employees.
Snap shares were down 24% this year.
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