Snap Inc. Faces Investor Backlash After Q2 Results

In a surprising turn of events, Snap Inc. experienced a significant drop in its share value during after-hours trading on Tuesday. The decline came after the company released its second-quarter financial results, which failed to meet investor expectations.

Financial Highlights and Market Reaction

The company reported a revenue of $1.3 billion, slightly below analyst forecasts. More concerning was the expansion of Snap's net loss and diluted net loss per share, which stood at $263 million and $0.16, respectively, compared to the previous year.

By 4:18 pm ET, Snap's stock had fallen by 15.12%, trading at $7.97, marking a challenging period for the social media giant.