Here's Why Snap Stock Is Moving
Portfolio Pulse from Henry Khederian
Snap Inc's shares are trading lower by around 2.84% after the company reported its 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. The company ended the quarter with 397 million daily active users, up 14% YoY. Despite exceeding estimates, the decline in revenue may concern investors.
July 27, 2023 | 3:11 pm
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Snap's shares are trading lower following its Q3 earnings report. Despite beating estimates, the 4% YoY decline in revenue and reported loss may negatively impact investor sentiment.
Snap's shares are trading lower likely due to the reported 4% YoY decline in revenue and reported loss, despite beating estimates. This could signal potential challenges or weaker growth, leading to negative sentiment towards the stock.
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