Todd Spangler NY Digital Editor Snap, still wrestling with softer ad sales amid stiff competition in the digital advertising sector, saw its top line drop 4% in the second quarter of 2023 — and while it managed to beat Wall Street earnings estimates, the Snapchat owner’s stock fell on a weaker-than-expected Q3 outlook.
For Q2, the company reported revenue of $1.07 billion and a net loss of $377 million million, or an adjusted loss of 2 cents per share.
It was the second quarter in a row of revenue decline, after Snap sales were off 7% in Q1. For the most recent quarter, Wall Street was expecting the social media and messaging app company to post revenue of $946.7 million and an adjusted net loss of 4 cents per share.
At the same time, Snapchat’s user base continues to grow: In Q2, the app added 14 million daily active users on average in the quarter to hit 397 million (up from 383 million DAUs in Q1 and an increase of 14% year over year).
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.