Why Is Snap (SNAP) Stock Down 30% Today?

Snap (NYSE:SNAP) stock is falling on Wednesday as investors react to the social media company’s earnings report for the fourth quarter of 2023.The news sending SNAP shares lower today includes the company’s revenue of $1.36 billion in Q4. That’s below Wall Street’s estimate of $1.38 billion in revenue for the period. Even if it’s a 5% increase year-over-year from the company’s previous revenue of $1.3 billion.Also not helping SNAP stock is the company’s adjusted earnings per share of 8 cents. That’s despite ...