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Snap Shares Tank as Disappointing Outlook Overshadows Sales Beat
Snapchat owner Snap Inc. reported a stronger-than-expected gain in fourth-quarter revenue and gave an upbeat forecast for the current period, a sign that an overhaul of its advertising business is paying off. The shares soared on the news.
Snap said new advertising formats have attracted more small- and medium-sized marketers to its app. Photographer: Michael Nagle/Bloomberg
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