Snap Q3 Earnings: Revenue Beat, Stock Buyback And COO Retirement
Portfolio Pulse from Ryan Gustafson
Snap Inc. reported better-than-expected Q3 results, with earnings of two cents per share and sales of $1.19 billion, beating analyst estimates. The company also announced a $500 million stock buyback program. However, shares fell 4.12% in after-hours trading. Snap's COO, Jerry Hunter, is set to retire.
October 24, 2023 | 8:41 pm
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NEUTRAL IMPACT
Snap's better-than-expected Q3 results and stock buyback announcement could boost investor confidence. However, the retirement of COO Jerry Hunter may cause some uncertainty.
Snap's strong Q3 results and the announcement of a $500 million stock buyback program are positive news that could boost the stock. However, the retirement of COO Jerry Hunter introduces some uncertainty, which may have contributed to the after-hours drop in the stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100