Snap Stock Plummets As Q2 Earnings Rattle Tech With Ad Spend Warning

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By Martin Baccardax “We face a number of very large and very sophisticated competitors (and) we’re seeing the overall advertising pie grow at a slower rate amid the macro headwinds,” said CFO Derek Anderson. Snap Inc (SNAP) – Get Snap Inc. Class A Report shares plunged lower Friday after the messaging app maker posted its slowest revenue growth on record, while declining to offer near-term profit guidance, as the messaging app maker took a big hit to its ad-based business. The Snapchat messaging app maker posted a narrower-than-expected second quarter loss of 2 cents per share, but noted the r…

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