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Snap misses on earnings after rough redesign rollout

Illustration: Rebecca Zisser / Axios

Snap shares fell more than 16% in after-hours trading Tuesday after the company missed Wall Street expectations for revenue and user growth.

Why it matters: The company has faced backlash from users, including popular celebrities, after it redesigned its app to separate content from social conversations. Analysts warned that the difficult redesign process could affect user growth.