Shares of Snap Inc. (SNAP) are dropping over 30% in extended hours trading on Tuesday afternoon after the company released its fourth-quarter earnings report. The report showed revenue rose 5% to $1.36 billion, but still missed estimates of $1.38 billion. In addition, Snap posted an adjusted first-quarter EBITDA (earnings before interest, taxes, depreciation, and amortization) which also missed analysts’ expectations.
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