Investing.com - Snap Inc (NYSE:SNAP)c is on track to close Friday's session at a record low with investors running for the exits following the company's second quarter earnings miss.
Snap's shares fell about 7% during Thursday's after hours session when the company said it lost 16 cents per share on revenue of $181.67 million. Both measures missed analysts expectations. The consensus forecast was for Snap to lose 14 cents per share on $186.8 million in revenue.
But, shares saw even more downside later, following Snap's earnings call in which management detailed its earnings miss and talked about lower pricing. Snap's shares were down almost 11% Friday afternoon and fell as low as $11.81, an all time low.