Why Snap Stock Was Plunging Today
Snap(SNAP) The Motley Fool·2024-02-07 17:17Shares of Snap (SNAP -33.93%), the parent of Snapchat, were getting torched once again today as the company fell well short of analyst estimates in its fourth-quarter earnings report. Revenue growth was sluggish as the company failed to capitalize on a broader recovery in the digital advertising industry.As of 11:23 a.m. ET, the stock was down 35.3% on the news. Snap still can't turn a GAAP profitSnap said revenue in the quarter increased 5% to $1.36 billion, which missed the consensus at $1.38 billion. The ...