Analysts attributed the poor results to the company’s redesign of the Snapchat app and said the company risks losing users to Facebook’s Instagram.
Estimated reading time: 0 minutes, 19 seconds
Estimated reading time: 0 minutes, 19 seconds
The stock price of Snapchat operator Snap Inc. dropped 21% after the company announced that it missed estimates for sales and daily active users for the first three months of this year. So reports Bloomberg.
Analysts attributed the poor results to the company’s redesign of the Snapchat app and said the company risks losing users to Facebook’s Instagram.