Categories AlphaGraphs, Earnings, Technology
SNAP Earnings: Snap reports adjusted profit for Q3; revenue rises 6%
Snap, Inc. (NYSE: SNAP) reported a net profit for the third quarter of 2022, on an adjusted basis, contrary to expectations for a loss. Revenues of the multimedia messaging platform increased by 6% but slightly missed the estimates.
Third-quarter earnings, on an adjusted basis, was $0.08 per share, compared to $0.17 per share in the same period of last year. Analysts had predicted a loss for the latest quarter.
On an unadjusted basis, the company reported a net loss of $359.5 million or $0.22 per share for the September quarter, compared to a loss of $71.9 million or $0.05 per share in the third quarter of 2021. Meanwhile, revenues increased 6% annually to $1.13 billion. The top line, however, slightly missed analysts’ forecasts.
Check this space to read management/analysts’ comments on Snap’s Q3 2022 earnings
“The growth of our community to 363 million daily active users, an increase of 19% year-over-year, continues to expand our long-term opportunity as we navigate this volatile macroeconomic environment,” said Evan Spiegel, CEO of Snap.
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
Key takeaways from General Mills’ Q3 2023 earnings report
Shares of General Mills Inc. (NYSE: GIS) were up nearly 3% on Thursday after the company delivered better-than-expected results for the third quarter of 2023 and raised its full-year guidance
FIVE Stock: Five Below is likely to continue the good show this year
For Five Below Inc. (NASDAQ: FIVE), the holiday season was more rewarding than expected as the high inflation and stressed personal finances made customers seek value. Earlier, the discount store
Earnings: Chewy (CHWY) swings to profit in Q4 on higher revenues
Chewy Inc. (NYSE: CHWY) has reported higher sales for the fourth quarter of 2022. Reflecting the strong top-line growth, the pet food company turned to profit from a loss last
