![]() ![]() Follow her on Twitter at and on LinkedIn. "We believe that improving returns on advertising investments will enable us to continue to increase our share of wallet in this highly competitive environment."Īllie Garfinkle is a Senior Tech Reporter at Yahoo Finance. "While we continued to face significant headwinds to our revenue growth in the quarter, we are optimistic about the improvements we are making to our direct response advertising platform and the early progress we have made improving return on advertising spend (ROAS) for our advertising partners," Snap's investor letter reads. Moving forward, look for Snap to tout and attempt to build efficiency in its advertising business. 1 Growth Stock Down 84 Youll Regret Not Buying on the Dip. In Q4 2021, Snap said in SEC filings that "for the years ended December 31, 2021, 2020, and 2019, advertising revenue accounted for approximately 99%, 99%, and 98% of total revenue, respectively." Yahoo Finance - Stock Market Live, Quotes, Business & Finance News Stocks higher as techs recover, Dow heads for 10 straight wins Stocks rose at the open Friday, putting the Dow on track. Right now, advertising is Snap's business. Snap remains in the throes of the advertising slowdown and, if the company's investor letter is anything to go by, they don't expect that to let up anytime soon. To that end, Snap has seen a number of downgrades recently, including from Citizens-owned JMP Securities and Jefferies. The stakes were high for Snap today, as Wall Street's grown increasingly skeptical of the company's prospects. Problem is, revenue growth wasnt up to snuff. The Snapchat messaging application is seen on a phone screen August 3, 2017. Snap stock is down today - but it actually beat earnings by a factor of two last night. In Q1, Snap had 383 million daily active users, which was an encouraging 15 year-over-year increase. Snap stock plunged in after-hours trading by about 13%. Shares of Snapchats parent company, Snap (NYSE: SNAP), got smashed on Friday after the company reported financial results for the first quarter of 2022. "We continue to face significant headwinds as we look to accelerate revenue growth, and we are making progress driving improved return on investment for advertisers and innovating to deepen the engagement of our community," CEO Evan Spiegel said in a statement. The Los Angeles-based company added that it expects to see its DAUs grow to between 382 million and 384 million in Q1 2023. Looking ahead, Snap's Q1 2023 revenue guidance suggests a decline "between -10% to -2% year-over-year." However, that's an internal forecast and the company declined to provide an official one for the third straight quarter. The company also reported a net loss of $288 million, a stark comparison to the net income of $23 million that Snap reported this time last year. Quotes Summary 5:59 PM ET 8:00 am 9:00 am 10:00 am 11:00 am 12:00 pm 1:00 pm 2:00 pm 3:00 pm 4:00 pm 5:00 pm 10.6 10.7 10.8 10.9 11 11.1 11.2 11.3 Key Data Bid Price and Ask Price. Q4 Revenue: $1.3 billion actual versus $1.31 billion expectedĪdjusted Earnings Per Share (EPS): 14 cents versus 11 cents expectedĭaily Active Users (DAUs): 375 million versus 374.7 million expected ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |