Snap plunges 30% after CEO warns company will miss revenue and earnings estimates, slow hiring

(CNBC) Snap shares plunged 30% in extended trading on Monday after CEO Evan Spiegel warned in a note to employees that the company will miss its own targets for revenue and adjusted earnings in the current quarter. The social media company will also slow hiring through the end of the year as it looks to manage expenses, Spiegel wrote. Part of the letter was filed with the Securities and Exchange Commission.

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