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
Microsoft (MSFT) reports higher revenue and profit for Q3 2024
Microsoft Corp. (NASDAQ: MSFT) on Thursday said its third-quarter 2024 earnings increased year-over-year, reflecting strong performance by the tech giant’s main operating segments. Third-quarter revenues came in at $61.86 billion,
GOOG, GOOGL Earnings: All you need to know about Alphabet’s Q1 2024 earnings results
Alphabet Inc. (NASDAQ: GOOG, GOOGL) reported its first quarter 2024 earnings results today. Revenues increased 15% year-over-year to $80.5 billion. Revenue growth was 16% in constant currency. Net income was
MRK Earnings: Merck Q1 2024 profit jumps on 9% revenue growth
Pharmaceutical company Merck & Co. Inc. (NYSE: MRK) reported a sharp increase in adjusted earnings for the first quarter of 2024, aided by an increase in revenues. First-quarter worldwide sales