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Snap shares plummet as investors mark down first earnings report

Friday, May 12, 2017 - 05:50

Snap's net loss widened to US$2.21 billion in the first quarter, from US$104.6 million.

San Francisco

SNAP Inc shares plunged on Wednesday after the owner of Snapchat reported slowing user growth and revenue in its first earnings report as a public company, missing Wall Street's estimates as it competes with copycat messaging apps.

Snap's revenue jumped nearly four-

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