
Snap Inc (NYSE:SNAP) shares traded lower by 38% on Friday after the company disappointed Wall Street with its second-quarter numbers.
On Thursday, Snap reported a second-quarter adjusted EPS loss of 2 cents, missing analyst estimates of a 1-cent loss. Snap's $1.11 billion in revenue for the quarter also fell short of consensus expectations of $1.14 billion. Revenue was up 13% from a year ago.