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Financial News: Snap revenue up, shares down

Financial News:

Snap revenue up, shares down

Snapchat

When daily active users at Snapchat's parent business rose somewhat more than expected, the stock of social media company Snap fell.

Shares of Snap (SNAP) fell 2.5% to $28.67 on the New York Stock Exchange. Snap's revenue for the third quarter came in at $1.06 billion, missing analysts' expectations of $1.07 billion on Thursday night. First quarter daily active users at Snap grew by 18 percent to 332 million. Analysts had predicted that 331 million people will be in attendance.

Photo: Snapchat is an American multimedia instant messaging app and service developed by Snap Inc., originally Snapchat Inc. One of the principal features of Snapchat is that pictures and messages are usually only available for a short time before they become inaccessible to their recipients.

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Content ID: 1650685080 Created Saturday, April 23, 2022 3:38 AM UTC by Aaron Stipkovich, Updated Saturday, April 23, 2022 4:16 AM UTC by Aaron Stipkovich.