Snap stock plunges 20% as revenue misses estimates


Snap Inc.’s stock plunged more than 20% in extended trading Thursday after the social-media company reported a decline in revenue.

Revenue dropped 7% to $988.6 million, from $1.06 billion a year ago. Analysts surveyed by FactSet had expected on average a net loss of a penny a share on revenue of $1 billion.

“The macroeconomic environment…

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