Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessSnap Inc First Quarter Earnings - CWEB.com

Snap Inc First Quarter Earnings – CWEB.com

Add to Favorite
Added to Favorite

snapchat1.jpg

Snap Inc First Quarter Earnings – CWEB.com

Today Snap Chat was down 25% in after-hours following the Huge $2.2 billion loss in first post-IPO quarter.

If it’s still down 25% when it opens tomorrow, you will have to seriously consider taking a bite to another minus 45% down.

Snap may have had a successful IPO, but that was pretty much wiped out after it reported its first-quarter earnings – where it completely whiffed on what Wall Street was expecting.

The company said it brought in $149.6 million in revenue in the first quarter this year. It also said it lost $2.31 per share, though most of that was due to expenses related to stock-based compensation. Meanwhile, analysts expected the company to report an adjusted loss of 16 cents per share on revenue of around $158 million. In short, it doesn’t look good – and it looks like its user growth came in soft as well.

The stock is down more than 20% in extended trading after it reported its first-quarter earnings. Snap has collapsed below $18 per share, now well short of the price it hit when it went public and very close to the $17 per share it priced at the IPO.

Subscribe to get Latest News Updates

Latest News

You may like more
more

Affirm Upgraded by Wells Fargo to Overweight, Shares Jump 12 percent

Wells Fargo analysts upgraded Affirm Holdings (NASDAQ:AFRM) to Overweight,...

JPMorgan’s Net Interest Income Beats Forecasts, Shares Gain 4 percent

JPMorgan Chase & Co. (NYSE:JPM) reported robust third-quarter net...

Uber Shares Jump 10 percent as Tesla Robotaxi Event Fails to Impress

Uber Technologies (NYSE:UBER) saw its shares rise by 10%...