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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NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100