10:43 ET -- Snap Inc. is one of the most talked about companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Snap, which runs the social-media app Snapchat, said Wednesday it would lay off 20% of its 6,400 employees and end several projects. The company said it has 8% revenue growth so far in the current quarter, lower than earlier anticipated. Snap warned staff it may suffer a period of low revenue growth well into next year. Snap shares are up 10%, to $11.03, at 10:40 a.m. ET. Dow Jones & Co. owns Factiva. (chris.wack@wsj.com)

(END) Dow Jones Newswires

August 31, 2022 10:58 ET (14:58 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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