The Latest Breaking News from Evan Spiegel

CEO says messaging app needs to focus on thirtysomethings and ‘big five’ countries – Mexico, Brazil, Italy, Spain and Japan

Worries about sky-high inflation, the Federal Reserve’s hawkish stance, and recession prospects have spurred market sell-off lately. Moreover, investors expect increased market volatility as analysts cut down their earnings estimates. Given the uncertain market conditions, fundamentally weak and losing stocks Snap (SNAP), Allegiant Travel (ALGT), and Cardiff Oncology (CRDF) could…

A year into the pandemic, Evan Spiegel was flying high. The chief executive of Snap said annual revenue growth of 50% or more was a "steady state opportunity" for the social media company, requiring no additional gains in audience or innovation.

Snap to focus on its core messaging product as it reports revenue growth well below expectations

Snap Inc (NYSE: SNAP) shares traded higher by 15% on Wednesday after the social media giant disclosed in a new filing that it will be restructuring its business and laying off 20% of its staff.

Snap stock jumped Wednesday as the social media company said it would slash 20% of its more than 6,000-person workforce.

Snap has lost nearly 80% of its market value since the beginning of the year.

Reuters

Camera company and Snapchat parent company Snap Inc (NYSE: SNAP) is falling after-hours Thursday after reporting second-quarter financial results. Here are the key highlights.

"I think he's seeing a lot of what we saw in Asia," Spiegel told Axios.

Snap Inc (NYSE: SNAP) shares are plummeting 40% after CEO Evan Spiegel warned employees the company will miss its targets for revenue and earnings in the second quarter.