Snap plunged more than 15 in after-hours trading after ceo, Ask an Expert

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Snap plunged more than 15% in after-hours trading after CEO Evan Spiegel announced a major revenue miss in the company’s third quarter. It’s the latest bad news for the firm facing intense competition from Facebook, and whose Spectacles — which added $40 million to the company’s losses — were a flop. On the bright side: Chinese giant Tencent sees the company’s woes as a buying opportunity, announcing today that it would take a 10% stake. Spiegel also said yesterday that the company would redesign its core product, in the hopes of making Snapchat easier to use (and easier for advertisers to understand, as it fights for ad dollars).

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92564137

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