Snap Still Isn't Meeting Wall Street's Expectations

Things aren’t looking up.

Tech
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With news of stock prices falling below its IPO back in July and the decision to bar the company from joining the S&P 500 Index earlier this month, it’s safe to say that Snap isn’t enjoying the best run of financial luck at present. And, reporting its second quarterly earnings as a publicly traded company on August 9, things don’t seem to be looking up all that far: while the company has managed to grow its user base and its revenue, the pace of both has disappointed Snap’s investors — as have widening losses — a dip in confidence which has also come with a further dip in share price, falling over 11% in after-hours trading.

While Snap’s revenue continues to increase — up 153% from corroborating period last year to a handsome $181 million USD — and its active user base follows in tandem, up by 7.3 million to 173 million, the company’s losses have also expanded to $443 million USD. There are a number of factors at play here, of course, not least of all the prevalence of Instagram — and in particular Instagram Stories, a format very similar to Snapchat‘s main USP — which will likely only make things harder for the company in the immediate future.

Speaking of Instagram, here’s how easy it is to fake your way to the top as a social media influencer.

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