Snap’s quarterly revenue falls short of estimates as competition rises
![Snap’s quarterly revenue falls short of estimates as competition rises](https://images.fastcompany.com/image/upload/w_1280,q_auto,f_auto,fl_lossy/wp-cms-2/2024/08/2024-08-01T201201Z_1_LYNXMPEK7027X_RTROPTP_4_SNAP-RESULTS.jpg)
Snap’s second-quarter revenue of $1.24 billion also missed analysts’ estimates of $1.25 billion, according to LSEG data.
Snap forecast current-quarter sales and adjusted core earnings below market expectations on Thursday as the Snapchat owner grapples with stiff competition from larger rivals for advertising dollars in an uncertain economy.