fibergre.blogg.se - Snap stock charts

Other ad-dependent platforms declined in fear of a similar fate, including Meta, Twitter, Alphabet and Pinterest. The word “headwinds” appeared a lot, largely in reference to Apple’s recent privacy changes, which have “upended more than a decade of advertising industry standards”. They woulda got away with it too, if it weren’t for those meddling Apple rules.

The app maker missed on both ends again in Q2, reporting LPS of $0.02 on revenues that were up 13% (short of the 20%-25% previously forecast) at $1.11bn.

Snap shares plunged over 25% in extended trading on Thursday to end a five-day winning streak, and have yet to recover from the previous quarter’s earnings disappointment.

Snap go the media stocks Snap is on a streak of earnings misses and its bumming out other social media investors, who are fearing the declining ad demand will spread to their portfolio too. Hold onto your hats folks, this earnings season could be rough. The dire earnings follow a similarly bearish Q2 and mean Snap is now down over 83% YTD, while also sending a shudder down the spine of investors in other ad-dependent platforms like Google and Meta, which dropped 3% and 5% respectively.

For a second quarter, Snap didn’t offer guidance but did say that revenue growth will continue to slow.In a letter to shareholders, Snap confirmed advertisers are continuing to significantly pull back on spending thanks to both Apple’s privacy changes and inflation. On top of slowing revenue growth, net losses ballooned 400% to $360m, which included its restructure and its mass layoffs. Widening losses and digital ad distress were what pricked the bear's ears.It came after the embattled company reported earnings, and while EPS of $0.08 beat estimates for a $0.02 loss and daily active users rose 19% to top estimates at 363m, revenues of $1.13bn were shy of expectations. Snap stock crashed roughly 25% in extended trading on Thursday, wiping $4bn off its market cap and hitting its lowest level since 2019.How to lose $4bn That viral crying Snap filter is feeling all too real as investors watch shares in the social media stock plummet following yet another depressing earnings report.