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
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Salesforce stock hit by weak guidance, co-CEO’s exit. What next?
For technology stocks, 2022 has been a challenging year, with companies losing significant market value amid prolonged stock selloff. In that respect, Salesforce, Inc. (NYSE: CRM) is among the worst-affected
Macy’s (M): Here’s a look at the retailer’s expectations for the near term
Shares of Macy’s Inc. (NYSE: M) were down on Thursday. The stock has gained 36% over the past three months and 18% over the past one month. The company’s sales
KR Earnings: Kroger Q3 sales, profit increase and top expectations
Department store chain The Kroger Co. (NYSE: KR) on Thursday said its third-quarter sales and adjusted earnings increased year-over-year. The latest numbers also exceeded the market's expectations. Net earnings attributable to
