Snap is tanking after disappointing earnings

It might be a beautiful day in Venice, CA, but things at the beach-headquartered Snap are not so sunny at the moment.

Snap reported disappointing revenue in its Q1 earnings report on Tuesday — and the market reacted like the volatile, fickle beast that it is. 

SEE ALSO: Snapchat blew its first-ever earnings

Snap missed investor expectations big time, reporting a quarterly revenue of $231 million. The expectation was $244.5 million, according to a Thomson Reuters consensus estimate.

And things aren't likely to improve any time soon. CEO Evan Spiegel said that Snap's growth is stalling.

"We are planning for our Q2 [revenue] growth rate to decelerate substantially from Q1 levels," CFO Drew Vollero said. Read more...

More about Snapchat, Snap Inc, Revenue, Snapchat Redesign, and Tech

COntributer : Mashable https://ift.tt/2Kw563k

Exhibit rare genuine handcrafted multi-ethnic products of the people in Island of Borneo!