Snap Is the Picture of Recessionary Tech

Snap admittedly painted a very grim big picture Thursday, but investors might want to study the fine details.

After warning in late May that deteriorating macroeconomic conditions would likely cause select second-quarter results to come in below the low end of its guidance range—issued just a month earlier—Snap said Thursday that revenue increased just 13% in the period ended June 30 , 7 percentage points below the low end of its April forecast.

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