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Snap shares slide as user growth miss unnerves investors

Reuters 

(Reuters) - Snap Inc's shares fell more than 11 percent on Friday in premarket trading after messaging app Snapchat's daily active user growth missed expectations for the second quarter in a row.Snapchat's second-quarter daily active users rose 21 percent to 173 million from an year earlier, falling short of the 175.2 million expected by analysts, according to financial data analytics firm FactSet.In comparison, Snapchat's main rival Instagram Stories, where users and businesses can post a string of photos and videos that disappear after 24 hours, had more than 250 million users as of Aug. 2. ...

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First Published: Fri, August 11 2017. 18:49 IST
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