Right now in faster rate surge and a currency climb taking a toll on markets and now snaps

after hours miss cratering that stock and the rest of the social space will the rest

of tech follow will go inside the numbers plus a Tesla tumble shares falling to 52

week lows as investors call you know what on Elon Musk's claims the EV maker will grow

to be bigger than Apple and Saudi Aramco and later AT&T dialing up big games wins the

last time we said that rolling the dice on Las Vegas sands and the options action on an

energized sector. I'm Carl Keats and Ian from Melissa Lee this is fast money life in the

Nasdaq market site full desk of the OGs tonight Tim Seymour here in Feinerman Dan Nathan guy

Donnie nice to be back with you guys on set welcome Carl let's get right to snap losing a quarter

of its value after hours on this revenue miss slowest growth since going public this is the streets

first look at the struggling online ad market and it's not a pretty one let's get to Julia

Morrison with all the details Julia wow that stock down 25% Carl snap shares plummeting after

the company beat on earnings and it grew its users faster than expected actually accelerating

daily active user growth to add 16 million in the quarter but revenue miss by a hair as average

revenue per user fell short of estimates and declined both sequentially and also down from

the year ago period but the real source of concern warnings that fourth quarter revenue will

be flat that's far short of analyst consensus for 6.4% revenue growth this as snap anticipates

revenue growth will decelerate from now which is actually saying 9% revenue growth throughout

the quarter speakal writing quote we are finding that our advertising partners across many industries

are decreasing their marketing budgets especially in the face of operating environment headwinds

inflation driven cost pressures and rising costs of capital the company also noting that although

overall users did increase total time spent watching content in the US decrease 5% from a year ago

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