Snap is trading at a 3-month low (SNAP)

pulse

August 28, 2018 7:15 PM

Snap shares are closing in on their record low.

Snap beat on both the top and bottom lines in the second quarter, but
admitted its daily active users dropped.
Watch Snap trade in real-time here.

reported a loss of $0.27 a share on revenue of $262 million in the second quarter. After adjusting for pre-tax gains, the loss per share was $0.14. Snap also said that its daily active users decreased 2% to 188 million in second quarter, its comparing to 191 million in previous quarter.

Tuesday's selling has shares on track to snap their mini two-day winning streak. The social-media company was able to post a gain of 1.5% on Friday — after Bloomberg profiled CEO Evan Spiegel said he was making an effort to be more personable with employees.

Snap shares were down 24% this year.

pulse