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All eyes in the tech world were on Snap today to see if the recently public app pulled off a successful second quarter, particularly with Wall Street’s growing concerns about the company staying ahead of competitor Instagram.
Overall, Snap reported worse-than-expected earnings, with lower revenue and slower growth in daily average users.
During the second quarter of 2017, Snap made $181.7 million from 173 million daily active users, up from $149.6 million from the previous quarter. Second-quarter revenue missed a Thomson Reuters estimate of $186.2