Social media platform Snap Inc. (NYSE: SNAP) will be publishing results for the second quarter of 2023 today after the close of markets.
Experts have predicted that the company would report a loss of $0.04 per share for the June quarter, on an adjusted basis, which marks a slight deterioration from the prior-year quarter when it incurred a loss of $0.02 per share. The weak bottom-line forecast reflects an estimated 14.8% fall in revenues to $946.68 million.
In the first quarter, the company posted adjusted earnings of $0.01 per share, compared to a loss of $0.02 per share a year earlier. However, there was a 7% decrease in revenues to $989 million. The top line was negatively impacted by weakness in the North American and European markets.
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