Snapchat in extremely challenging conditions/ Shares fall

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The Snapchat platform seems to be in economic trouble as it is facing extremely challenging conditions. This has immediately affected the fall of the shares.

The firm noted that advertisers have cut spending as they face supply chain disruptions. Snapchat shares fell 25% on the New York Stock Exchange.

After the close of US markets, Snap reported revenue of $1.11 billion for the last three months.

This came after some of its advertisers had cut spending as they faced rising costs, supply chain disruptions and labor shortages.

But it is interesting and another fact since by the end of June the daily active users on Snapchat increased to 347 million, this fact was beyond any kind of prediction./ CNA.al

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