Snap Q2 Adj $(0.02) Beats $(0.04) Estimate, Sales $1.07B Beat $946.68M Estimate
Portfolio Pulse from Benzinga Newsdesk
Snap Inc. reported Q2 earnings per share (EPS) of $(0.02), beating the analyst consensus estimate of $(0.04) by 50%. The company's quarterly sales were $1.07 billion, surpassing the analyst consensus estimate of $1.05 billion by 1.68%. However, this represents a 3.90% decrease compared to the same period last year.
July 25, 2023 | 8:11 pm
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NEUTRAL IMPACT
Snap's Q2 earnings beat analyst estimates, but sales decreased compared to last year. This mixed result could lead to volatility in the stock's price.
Snap's better-than-expected earnings are a positive signal for investors, which could drive the stock price up. However, the decrease in sales compared to last year might raise concerns, potentially offsetting the positive impact of the earnings beat. Therefore, the net impact on the stock price could be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100