Snap Inc. Q3 earnings suck.
Recent volatility in the stock price of Snap Inc suggests that investors could be in for a surprise when results for Q3 earnings are posted late Tuesday. Recent increasing competition with Instagram has seen Snapchat user growth rate slow, and investors will be looking for solid earnings to assuage any doubts about the company’s ability to make money.
The Q3 Earnings are in!
Snap added only 4.5 million users. Earned $207.9 million in revenue with a loss of $0.14 per share, compared to expectations of a $237 million in revenue and a loss of $0.15 EPS. (source:Techcrunch). The stock has crashed 20% post 3Q earnings disappointment.