Breakingviews

Snap is better off without the rose-tinted filters

Breakingviews · October 22, 2021 · 5:10 PM UTC

Snap may have scared some sense into its investors. The disappearing-message app, represented by a cartoon ghost, lost $25 billion of market value on Friday morning, the day after it said changes to Apple’s smartphone operating system were making it harder to squeeze profit from users. Revenue that missed analysts’ estimates, a slowdown in projected growth for the fourth quarter and the impact of supply chain disruptions on companies who advertise through Snapchat all conspired to knock 20% off the company’s shares.

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