Shares in Snapchat’s parent company Snap Inc. have plummeted in value by almost a quarter – to the tune of $6 billion. The drop comes after the first earnings report since the company went public showed a slowdown in user growth and revenue.
On Tuesday, the company posted a $2.2 billion loss in the first quarter, much of which was tied to compensation following the company’s IPO in March. After adjusting for the expected expenses, losses of $188.2 million were reported – greater than analysts anticipated. Continue reading “Snapchat slapped: $6bn wiped off value as shares collapse”


