Snapchat parent Snap posts $443M net loss in 2nd quarter as public company, stock slumps 13%

Snapchat parent Snap posted a net loss of $ 443 million in its second quarter as a public company, sending its stock down 14 percent in after-hours trading Thursday. Last year at this time, before it went public, Snap posted a loss of $ 105 million. Snap says it has added 30.5 million users in the last year, with a total of 173 million at the end of the second quarter. Snap has now posted losses of $ 2.65 billion in the first six months of the year, most of that coming from $ 2 billion in stock-based compensation costs related to the company’s March IPO.

(Flickr Creative Commons Photo / laughingdemon)