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Snap Inc

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finance1 year ago

Snap Stock Tumbles as Q4 Results Disappoint

Snap Inc's stock plummeted over 35% after reporting Q4 revenue below analyst estimates, despite beating adjusted earnings expectations. Analysts expressed concerns about the company's restructuring, lower monetization of Daily Active Users, and loss of market share to larger advertising platforms. Snap faces challenges due to its limited scale, resulting in a decline in revenue share compared to larger social media counterparts. Analysts are cautious about Snap's short-term performance and are awaiting more consistent execution to reposition the company for faster growth and improved margins.

via Benzinga|
#analyst-ratings#finance#q4-results
businesstechnology1 year ago

Snap's Stock Plunge: A Cautionary Tale of Limited Reach and Revenue Miss

Snap Inc., the parent company of Snapchat, faces challenges in competing for digital advertising revenue against larger players like Meta. Insider Intelligence Senior Director Jeremy Goldman highlights the difficulty of Snap's limited reach and niche positioning in attracting ad dollars, as well as the company's struggle to offer better reach or cost advantages compared to its competitors. While Snap has strengths in teen safety and augmented reality, it faces an uphill battle in the digital ad market.

via Yahoo Finance|
#ad-revenue#businesstechnology#digital-advertising
businessfinance1 year ago

Snap Stock Plunges 35% After Disappointing Holiday Sales

Snap Inc. shares plunged by the most in over a year after reporting lower-than-expected revenue growth during the holiday season, leading to a 32% drop in stock value. The company's full-year revenue growth remained flat, reflecting a challenging operating environment, and it projected a loss in adjusted earnings for the current period. Despite efforts to restructure and improve ad targeting, Snap continues to face challenges from Apple's privacy changes and geopolitical headwinds. The company is focusing on user growth and engagement in its most monetizable regions, with a shift towards prioritizing North America and Europe.

via Los Angeles Times|
#businessfinance#earnings#restructuring
finance1 year ago

"Snap's Stock Plunge: A Rollercoaster Ride of Highs and Lows"

Snap Inc.'s disappointing earnings report led to a 30% stock plunge, prompting analysts to criticize what they see as confusing investor behavior and a pattern of unrealistic expectations. Despite some signs of progress, concerns linger about Snap's competitive position, financial profile, and user growth. Analysts expressed doubts about the company's strategic shift and its ability to compete with larger rivals, leading to downgraded price targets and ratings.

via MarketWatch|
#analyst#earnings-report#finance
business1 year ago

"Snap Plummets 30% on Revenue Miss and Weak Guidance"

Snap shares plummeted 30% after the company reported lower-than-expected revenue and issued weak guidance for the fiscal fourth quarter, attributing the struggle to a slower rebound in the advertising market compared to other firms like Meta. This marks the company's sixth consecutive quarter of single-digit growth or sales declines. Analysts at Morgan Stanley maintained their underweight rating for Snap, while Barclays analysts remained optimistic, keeping an overweight rating and $15 price target on the stock. JPMorgan analysts reiterated their underweight rating and raised their price target from $9 to $11 based on 2025 revenue expectations of around $5.9 billion.

via CNBC|
#advertising#business#guidance
businesstechnology1 year ago

Snap's Stock Plunges Amid Revenue Miss and Global Headwinds

Snap Inc.'s disappointing quarterly results and forecast, along with repeated excuses, are being questioned as Meta Platforms and Alphabet continue to thrive in the internet ad market. Snap's slower growth rate and reliance on brand advertising are seen as weaknesses, especially in the face of conflicts impacting revenue growth. Analysts are concerned about Snap's ability to compete in the direct-response ad space and its overall scale and sophistication compared to larger rivals. Investors are now in a wait-and-see mode, hoping that Snap can turn things around in the increasingly competitive ad environment dominated by Meta and Alphabet.

via MarketWatch|
#advertising#alphabet#businesstechnology
business-technology1 year ago

Snap Stock Plunges 30% Due to Revenue Miss and Weak Guidance

Snap Inc. shares plunged over 30% after reporting disappointing revenue in the holiday quarter, with a 5% increase to $1.36 billion falling short of analysts' expectations. The company, parent to Snapchat, attributed the challenging operating environment to a slump in the digital advertising market and Apple's privacy changes. Despite ongoing restructuring efforts, including a 10% workforce reduction, Snap projected a larger-than-expected loss in the current period. The company is focusing on user growth and engagement in highly monetizable regions, while also exploring new revenue streams such as its subscription offering, Snapchat+.

via Yahoo Finance|
#business-technology#digital-advertising#restructuring
businessfinance1 year ago

Snap's Stock Tumbles 30% on Revenue Miss and Weak Guidance Amid Global Headwinds

Snap Inc.'s stock plummeted over 30% in after-hours trading following a revenue miss and weak guidance, with a net loss of $248.2 million and a 10% rise in daily active users to 414 million. The company also announced plans to cut about 10% of its workforce after previously laying off 20% in August 2022. Snap's revenue improved to $1.36 billion, but its forecast for the first quarter fell short of analyst expectations, leading to concerns about its future performance in the digital ad market.

via MarketWatch|
#businessfinance#job-cuts#revenue-miss
business-technology1 year ago

"Snap's Q4 Earnings: Revenue Miss and Middle East Conflict Create Headwind, Stock Plunges 30%"

Snap Inc. reported a revenue miss and issued a light guidance, causing its stock to plunge 30% in extended trading. The company attributed some of the weakness to the conflict in the Middle East, which created a headwind to year-over-year growth. Snap's net loss for the quarter narrowed, but it expects an adjusted EBITDA loss in the first quarter. The company also disclosed sales for its Snapchat+ subscription service for the first time, with 7 million subscribers and an annualized revenue run rate of $249 million in 2023. Snap's struggles in the digital ad market have led to six straight quarters of single-digit growth or sales declines, while larger rivals like Meta, Amazon, and Alphabet reported double-digit expansion in their advertising units.

via CNBC|
#business-technology#digital-ad-market#evan-spiegel
finance-and-business1 year ago

"Tech Layoffs and Stronger Economy Push Mortgage Rates Over 7% - Impact on Homebuyers"

Mortgage rates have surged, with the average 30-year fixed rate reaching 7.04% following a sharp increase after the strong January employment report; Port of New Orleans sees a return to pre-pandemic cruise numbers with nearly 1.2 million passengers in 2023; Snap Inc. is cutting about 10% of its global workforce, or approximately 530 employees, joining the trend of tech companies announcing layoffs.

via Greater Baton Rouge Business Report|
#cruise-industry#finance-and-business#mortgage-rates
business1 year ago

Snapchat to Cut 10% of Global Workforce, 500 Jobs Slashed

Snap Inc. announced plans to lay off around 10% of its global workforce, totaling approximately 529 employees, with expected charges of $55 million to $75 million. The company has undergone multiple rounds of layoffs since 2022 and is part of a trend in the tech industry, with nearly 24,000 tech workers losing their jobs in January alone. CEO Evan Spiegel recently testified before the Senate Judiciary Committee, and the move follows similar headcount reductions by other tech giants like Meta, Amazon, and Alphabet.

via CNBC|
#business#layoff#snap-inc
finance2 years ago

"Snap (SNAP) Enjoys Multiple Beneficial Factors"

Artisan Developing World Fund's fourth quarter 2023 investor letter highlighted Snap Inc. (NYSE:SNAP) as one of the top contributors to its performance, citing improved industry demand, customer adoption of Snap’s technology platform, and a new partnership with Amazon as factors that benefitted the social media platform. Despite not being among the 30 Most Popular Stocks Among Hedge Funds, 25 hedge fund portfolios held Snap Inc. (NYSE:SNAP) at the end of the third quarter. The stock closed at $16.55 per share on January 5, 2024, with a one-month return of 5.08% and a 79.89% gain over the last 52 weeks, contributing to its market capitalization of $27.248 billion.

via Yahoo Finance|
#artisan-developing-world-fund#finance#investment
business2 years ago

Snap's Q3 Earnings: Strong Revenue Growth and Investor Optimism

Snap Inc. surprised investors with 5% revenue growth in its latest quarter, breaking a streak of declines. The company reported $1.19 billion in revenue, beating analysts' expectations. Snap also recorded a net loss of $368 million but exceeded expectations. The company had 406 million daily active users and announced a stock-buyback program of up to $500 million. However, Snap did not provide formal guidance for the next quarter due to limited visibility of advertising demand and the impact of the war in the Middle East on advertising campaigns.

via MarketWatch|
#advertising#business#earnings