Snap Shares Plunge 25 Percent on Dismal Quarterly Earnings, Increasing Competition Slows Growth

Snapchat shares lost 25 percent in value on Thursday after dismal quarterly sales figures. The company’s loss in the second quarter tripled to $422 million (roughly Rs. 3,371 crore) while revenue rose 13 percent. The company is facing increased competition from TikTok and is battling inflation related woes, like other social media firms. The number of people using S...

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