Todd Spangler NY Digital Editor Snap, despite continuing to grow its overall Snapchat user base and more than doubling the number of active advertisers in the second quarter of 2024, hit a speed bump with the earnings report and Q3 outlook — which missed Wall Street targets.
Snap shares were down more than 25% in early trading Friday to under $9.60/share on the earnings report, released after market close on Aug.
1. Q2 revenue grew 16% year-over-year to $1.24 billion, “despite the impact of a weaker brand advertising environment for certain consumer discretionary verticals,” the company said.
Brand advertising sales were down 1% year-over-year. The top-line number was short of analyst consensus expectations of $1.25 billion.
Read more on variety.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.