A Snapchat logo is seen through broken glass in this illustration picture, May 11, 2017. REUTERS/Dado Ruvic/Illustration
WASHINGTON: Snapchat’s ambition to become the next big social media platform hit a brutal reality check with the first earnings report from parent company Snap Inc.
The US$2.2bil (RM9.55bil) loss reported Wednesday for the first quarter along with weaker-than-expected revenue and sluggish user growth prompted a wave of selling and harsh comments from analysts about the firm known for its disappearing messages.
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