--- title: "Snap Shares got dropped by 25% after the Second-quarter Results, led to Slow Revenue Growth" description: "Snapchat shares tumbled by 25% on Thursday after noticing the weakening economy on social media and had suddenly planned to slow down their hiring pro" author: "Siddhi Shaw" published: 2022-07-22 canonical: https://www.mindstick.com/news/1786/snap-shares-got-dropped-by-25-after-the-second-quarter-results-led-to-slow-revenue-growth category: "technology" tags: ["technology", "share", "social media", "advertising"] reading_time: 2 minutes --- # Snap Shares got dropped by 25% after the Second-quarter Results, led to Slow Revenue Growth **Snapchat** shares tumbled by 25% on **Thursday** after noticing the weakening economy on social media and had suddenly planned to slow down their [hiring process](https://www.mindstick.com/articles/331212/7-ways-to-optimize-your-hiring-process) as it reckons with weakening revenue growth. ``` HIGHLIGHTS Some advertisers are still facing the supply-chain disruptions and labor shortages The company is about to repurchase a stock worth up to $500 million Snap plans to slow our down hiring process and the rate of operating expense growth ``` Also Read: [Snapchat Controls Friend Suggestions For Teen Accounts, Reveals Measures To Combat Drug Spread](https://www.mindstick.com/news/1265/snapchat-controls-friend-suggestions-for-teen-accounts-reveals-measures-to-combat-drug-spread) The [Snapchat](https://www.mindstick.com/news/1534/snapchat-allows-users-to-share-videos-directly-from-the-youtube-app-on-android-and-ios) owner has mentioned that some advertisers are still facing the supply-chain disruptions and labor shortages, and plenty of others are contending with rising prices amid record [inflation](https://www.mindstick.com/news/1634/jeff-bezos-responded-joe-biden-s-words-can-corporate-taxes-tame-inflation), that has already led to cutbacks while spending on advertising. Co-founders **Evan Spiegel**, the **CEO**, and technology chief **Bobby Murphy** have agreed to the new employment contracts which would keep them within their jobs for at least by **January 2027**. Investors have been expecting the slowest-ever pace of growth for [social media](https://www.mindstick.com/news/1652/indian-government-revises-rules-for-social-media-companies-to-protect-constitutional-rights) ad revenue this year, as [rising inflation](https://answers.mindstick.com/qa/113994/how-are-governments-addressing-rising-inflation-rates-worldwide) and different economic woes would cause brands to slash off their marketing budgets. The second [quarter revenue](https://www.mindstick.com/news/1336/google-reports-mammoth-jump-in-fourth-quarter-revenue) for Snap ended on **June 30** which was **$1.11 billion**, missing analyst expectations of **$1.14 billion**, as per the **IBES** data from **Refinitiv**. The figure has grew up to **13%** from the prior-year quarter.. Snap has mentioned in a prepared remarks released within a conference call with analyst that '**We aren't happy with the results that we have been delivering, in spite of the present headwinds**.' Snapchat’s daily active users rose to **18%** year-over-year to **347 million**, beating consensus estimates of **344 million** users. Snap has been found investing heavily in [augmented reality](https://www.mindstick.com/articles/290039/augmented-reality-the-future-of-healthcare) technology and [ads](https://www.mindstick.com/news/708/analyzing-the-ads-on-fleets-to-catch-up-to-snapchat-facebook-twitter), that overlays computerised pictures onto photos and videos of the real world. According to **Jasmine Enberg**, the **Principal analyst** at **Insider Intelligence** has mentioned that these newer forms of advertising would tend “**to go first when the marketing budget are cut**.” The company has also announced on Thursday about a share repurchase program of up to **$500 million**. Also Read: [Snapchat now permits to change your username let's see how](https://www.mindstick.com/news/1434/snapchat-now-permits-to-change-your-username-let-s-see-how) --- Original Source: https://www.mindstick.com/news/1786/snap-shares-got-dropped-by-25-after-the-second-quarter-results-led-to-slow-revenue-growth Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.