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Snap Embarks On Aggressive Cost-Cutting

In order to stop losses, Snap is embarking on an ambitious cost-cutting initiative, The Information reports. “Snap last year lost $720 million, before interest, taxes and charges like stock compensation expenses, due mostly to heavy spending on research and development and marketing,” it writes. “This year, analysts expect it to lose anywhere from $687 million to $912 million [while] analysts don’t project Snap turning profitable until at least 2021.”

 

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