, Columnist
Snapchat Is Having a Crisis of Confidence. So Are Investors.
An overhaul of the chief thing that produces revenue is a bad sign.
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Let's not mince words: Eight months after Snapchat went public, the company is a disaster.
Parent company Snap Inc. on Tuesday turned in its third earnings report as a public company, and for the third time its shares tanked when both revenue and user growth were disappointing. Snapchat also disclosed it would change the fundamental character of its app -- the sole significant revenue source -- to make it easier for people to use.