Snap shares plunged on weak guidance. More here:
reported second-quarter results that topped analysts' estimates but provided a weaker-than-expected forecast for the current period.
The company managed to narrow its net loss by 11% year-over-year to $377.3 million in its second quarter, which ended June 30, 2023. "We are excited by the progress we have made delivering increased return on investment for our advertising partners, growing our community to 397 million daily active users, and reaching more than 4 million Snapchat+ subscribers," Snap CEO Evan Spiegel said in a statement.it as a way for users to access exclusive features and updates for a monthly fee of $3.99.
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