Shares of Snap (NYSE: SNAP) are plunging today, down 12% as of 12:00 p.m. EDT, after the Snapchat operator reported second-quarter earnings. User growth fell shy of expectations and the company’s net loss more than tripled.
Revenue in the second quarter rose 153% to $181.7 million, shy of the $186.2 million in sales that the Street was expecting. That all translated into a net loss of $443 million, or $0.36 per share, also worse than the consensus estimate of $0.30-per-share loss.
Image source: Snap.