Snap Inc tumbled over 18% in premarket trading after posting a disappointing Q3 forecast.
For the June quarter, it posted revenue of $1.068 billion, down 4% from a year ago and lost 2 cents a share. It now has 397 million daily active users, up 14%.
For the third quarter, it projects revenue of $1.07 billion to $1.13 billion, or flat to down 5% from a year ago.
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