CNBC headline: Snap shares plunge 25% on disappointing second-quarter results and plans to slow hiring
PUBLISHED THU, JUL 21 20224:12 PM EDTUPDATED THU, JUL 21 20226:22 PM EDT
$SNAP missed on the top and bottom lines in its second-quarter earnings report.
The company authorized a stock repurchasing program of up to $500 million.
Snap said it plans to “substantially slow our rate of hiring, as well as the rate of operating expense growth.”