Categories AlphaGraphs, Earnings, Technology

SNAP Earnings: Snap slips to loss in Q2 despite strong sales growth

Multimedia messaging platform Snap, Inc. (NYSE: SNAP) reported a net loss for the second quarter of 2022, compared to a profit last year, despite sales growing in double digits. The results missed the consensus estimates.

Second-quarter net loss, on an adjusted basis, was $0.02 per share, compared to earnings of $0.10 in the same period of 2021. Analysts had predicted a narrower loss for the most recent quarter.

On an unadjusted basis, the company reported a net loss of $422.07 million or $0.26 per share in the June quarter, compared to a loss of $151.66 million or $0.10 per share in the second quarter of last year. Meanwhile, revenues increased 13% annually to $1.11 billion, which missed analysts’ forecast.


Check this space to read management/analysts’ comments on Snap’s Q2 2022 earnings


“We are evolving our business and strategy to reaccelerate revenue growth, including innovating on our products, investing heavily in our direct response advertising business, and cultivating new sources of revenue to help diversify our topline growth,” said Evan Spiegel, CEO of Snap.

Prior Performance

  • Snap Q1 2022 earnings infographic

_________________________________________________________________________________________________________________

Stocks you may like:

Apple (AAPL) Stock

Microsoft (MSFT) Stock

Alphabet (GOOGL) Stock

International Business Machines Corp. (IBM) Stock

_________________________________________________________________________________________________________________

Most Popular

Salesforce Q3 2024 earnings increase on higher revenues, beat estimates

Customer relationship management platform Salesforce, Inc. (NYSE: CRM) reported higher earnings and revenues for the third quarter of 2024. Earnings also topped expectations. Third-quarter profit, excluding non-recurring items, increased to

AutoZone (AZO) to report Q1 2024 earnings next week. Here’s what to expect

Auto parts retailer AutoZone, Inc. (NYSE: AZO) is preparing to report first-quarter results next week, after delivering better-than-expected quarterly earnings consistently in recent years. Analysts forecast an increase in profit

Key takeaways from Hormel Foods’ (HRL) Q4 2023 earnings report

Shares of Hormel Foods Corporation (NYSE: HRL) were down over 4% on Wednesday after the company delivered fourth quarter 2023 earnings results that fell below expectations. The stock has dropped

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top