Shares of Snap (NYSE: SNAP) were taking a dive once again today as the Snapchat parent underwhelmed with its second-quarter earnings report and offered weak guidance for the third quarter.

The stock was down 19% as of 11:54 a.m. ET Wednesday on the news.

Revenue in the quarter fell 4% to $1.07 billion, topping estimates at $946.7 million, as the social media company continued to struggle with a weak digital advertising market even as its daily active user base increased 14% to 397 million.

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Source Fool.com