Snap loses users for the first time, beats on revenue

SAN FRANCISCO (Reuters) – Snap Inc’s Snapchat app unexpectedly lost users in the second quarter, the company said on Tuesday, likely adding fuel to investor fears about slowing growth in the social media sector.

FILE PHOTO – A woman stands in front of the logo of Snap Inc. on the floor of the New York Stock Exchange (NYSE) while waiting for Snap Inc. to post their IPO, in New York City, New York, U.S. on March 2, 2017. REUTERS/Lucas Jackson/File Photo

Daily users fell to 188 million from 191 million in the prior quarter, which could heighten investor anxiety about how competition and…

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