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Snap Shares Plunge As Q2 Earnings, Outlook Disappoint
Shares of Snapchat parent Snap fell sharply after market as earnings for the June quarter were better but fell short of Wall Street estimates.
We are looking forward to hosting our upcoming Snap Partner Summit on September 17th, where we will announce new updates to our service.” Brand-oriented advertising revenue declined 1% year-over-year, the company said, on weak demand from certain consumer discretionary verticals including retail, technology,and entertainment, as well as the timing impact of holidays shifting out of Q2 in the current year. In its release, the company also offered a peek into the current quarter: “As we enter Q3, we anticipate continued growth of our global community, and as a result, our Q3 guidance is built on the assumption that DAU will be approximately 441 million in Q3.
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