Snap shares fall after a strong earnings report

22.07.2020 - Petr Mazaylo
Snap shares fall after a strong earnings report

On Tuesday, Snap Inc.’s (SNAP.N) stock price declined by more than 11% in after-hours trading as investors digested the company’s user and revenue growth after its second-quarter earnings report.

The social media company reported 238 Million daily active users that represent 17% growth and a slight miss from Wall Street’s consensus of 238.5 Million.

“The growing focus on brand safety and privacy across the entire industry places us in a unique position of strength as we have invested in these areas from the beginning of our business,” Snap Inc.’s Chief Executive Officer Evan Spiegel said in a statement during the second-quarter earnings report.

“We are grateful that the resilience of our business has allowed us to remain focused on our future growth and opportunity,” he added.

Snap Inc. reported a diluted net loss of 23 cents per share on its revenue worth $454.16 Million. According to FactSet (FDS), some analysts expected a loss of 22 cents per share on its average revenue worth $442 Million.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or Market Solutions limited." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?