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Here's Why Snap Stock Crashed Today

TheMotleyFool

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Shares of Snap (NYSE: SNAP) plunged 39% on Friday after the social media company's second-quarter financial results alarmed investors.

The parent company of Snapchat said its revenue rose 13% year over year to $1.1 billion. That represented a marked deceleration from the 38% growth Snap achieved in the first quarter.

Worse still, Snap's losses widened. It produced a net loss of $422 million compared to a loss of $152 million in the year-ago quarter.

Source Fool.com

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