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Post Info TOPIC: Microsoft, Google and Snap report earnings
Diewroy05


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Microsoft, Google and Snap report earnings
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Snap shares plunge 16% after posting second ever quarterly sales decline
Shares of Snapchat-parent Snap went tumbling as much as 16% in after-hours trading on Tuesday after the company reported a steep loss and its second ever decline in sales.

Snap posted a net loss of $377 million from the June quarter, an improvement from its $422 million net loss during the year-ago period but worse than the $66 million loss Wall Street analysts had projected.

Sales also fell nearly 4% from the prior year to $1.07 billion, its second consecutive decline in quarterly sales.

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