Celebs in News
Related Rumors
thewrap.com
show
reports
track
Snap Stock Craters 23% After Q3 Revenue Miss Despite Hitting 306 Million Users
Reading now: 430
thewrap.com
thewrap.comSnap on Thursday reported revenue surpassing $1 billion for the first time in a quarter, with daily active users growing to 306 million.
But with the revenue total missing analyst expectations by $3 million, the stock took a hit in after-hours trading and was down at least 23 percent at one point.Snap’s daily active users was up by 57 million, or 23%, year-over-year increase.
The year-over-year growth in DAUs exceeded projections at 20% for four consecutive quarters.“Its stock plummeting 25% post earnings is largely due to there being little clarity from management on how badly the changes from Apple will affect ad growth,” said Haris Anwar, senior analyst at Investing.com. “Is this something which will permanently damage its ad business or.
Read more on thewrap.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
Report this news
Related News
Celebrities
Locations