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Benzinga

Business

Anusuya Lahiri

Snapchat Parent Sees Slowing Audience Growth As Competition Intensifies

SNAP Snapchat Meta Nasdaq

Montreal,,Canada,-,March,20,,2016,-,Snapchat,Application,On

Snap Inc. (NYSE:SNAP), the parent company of Snapchat, trended on Wednesday as social media stocks continued to trade actively amid strong digital advertising demand and expanding user bases.

Despite long-term growth potential, Snap has struggled to keep pace with rivals. Shares have plunged 33% year-to-date after the company missed earnings expectations in its last two quarters.

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Top stories on inkl right now

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One subscription that gives you access to news from hundreds of sites

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From France to Albania, social unrest is setting Europe's streets ablaze

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