Here's Why Snap Is Moving
Portfolio Pulse from Henry Khederian
Snap Inc's shares fell by 19.14% after reporting Q3 earnings. The company's revenue was $1.07 billion, down 4% YoY but ahead of the Street consensus estimate of $1.05 billion. Snap reported a loss of two cents per share, beating the Street estimate of a loss of four cents per share. Daily active users increased by 14% YoY to 397 million. Despite exceeding estimates, the decline in revenue may concern investors.
July 26, 2023 | 2:42 pm
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NEGATIVE IMPACT
Snap's shares fell after Q3 earnings report showed a 4% YoY decline in revenue. However, it beat estimates on both revenue and loss per share. Daily active users increased by 14% YoY.
Despite beating estimates, Snap's shares fell due to a YoY decline in revenue. This suggests that investors are concerned about the company's growth prospects. However, the increase in daily active users could be a positive sign for future revenue growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100