Snapchat’s quarterly revenue was just shy of $1.3 billion. Snap posted a net loss of more than $288 million in the quarter. The report marked the fourth straight quarter of net losses for Snap. Snap shares fell as much as 15% in after-hours trading.
According to the Wall Street Journal, ByteDance-owned TikTok CEO Shou Zi Chew reportedly sought advice from Elon Musk on U.S.-related matters. Musk is serving as a close advisor to President-elect Donald Trump.
The Australian government has withdrawn a bill aimed at regulating the spread of misinformation on online platforms. This bill proposed fines of up to 5% of global revenue for platforms failing to curb misinformation.
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