Snap plunges over 30% after revenue miss, weak guidance - Breaking The News

Snap plunges over 30% after revenue miss, weak guidance

6 February

1 min read

EPA/JUSTIN LANE

The United States tech company Snap Inc. plummeted more than 30% on Tuesday after reporting fourth-quarter earnings that fell short of analysts' expectations and issuing a weaker-than-expected sales forecast.

Snap attributed part of its performance challenges to the conflict in the Middle East, estimating that it impacted year-over-year growth by approximately 2 percentage points in Q4.

At 4:19 pm ET, Snap shares plunged 30.64% to sell at $12.12 in after-hours trading in New York.

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