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Following this week's layoffs, Snap's stock tanks 30% on Q4 earnings
SNAPSnap(SNAP) TechCrunch·2024-02-06 22:07

Snap is not having a good quarter. Following this week’s news that the company was laying off 10% of its workforce, amounting to hundreds of employees, the company’s stock is now crashing after reporting a fourth-quarter earnings miss. The Snapchat maker’s stock dropped by over 30% in after-hours trading as investors reacted to Snap’s underwhelming revenue figures, tepid user growth, and weak first-quarter guidance.The company touted in its press release it had grown daily active users by 10% year-over-year ...