Snapchat shares -40% – Al-Madina newspaper

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In Friday’s Wall Street trading, US tech stocks closed lower after Snap Inc. announced disappointing results.

And its revenue growth was less than expected at $ 1.1 billion, which raised concerns from stock market investors and led to a 40% drop in Snap stock, dragging social media shares and shares with it. other tech companies such as Meta and Alphabet to record sharp declines.

Shares of Twitter also fell earlier after a sudden drop in second-quarter revenue to $ 1.18 billion, compared to expectations of $ 1.32 billion in revenue. Twitter attributed the decline to its ongoing battle to end the acquisition of Elon Musk and the weakness of the digital advertising market.

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