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Tuesday, January 31, 2023

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Snap, Inc. Shares fell 10% after missing revenue expectations

Snap, Inc., the parent company of Snapchat, saw its shares fall 10% after announcing it missed its revenue expectations. Snap announced its Q4 2019 earning on Tuesday of $561 Million.

While the company missed its earning expectations, the company did report 218 million monthly users, up from 210 million in the previous quarter.

“We saw momentum across the board as we grew our community, accelerated our revenue growth, and made progress towards profitability and free cash flow. We continued the momentum we developed early in the year through the fourth quarter,” CEO Evan Spiegel said in prepared remarks.

Business Insider;

  • Q4 ’19 earnings per share (EPS): Earnings of $0.03 a share. Wall Street was expecting $0.01 a share. During the same period a year earlier, the company lost $0.14 a share.
  • Q1 ’20 revenue (guidance): Between $450 million and $470 million. Analysts predicted $463.35 million. In the first quarter last year, Snap saw revenues of $320 million.
  • Q1 ’20 earnings per share (forecast): The company didn’t offer a per-share earnings forecast, but said it expected to post an adjusted loss before interest, taxes, depreciation, and amortization (adjusted EBITDA) of between $70 million and $90 million. Analysts were expecting adjusted EBITDA loss of $60.18 million in the period and a net loss of $0.06 a share. In the same period a year ago, the company lost $0.10 a share.

 

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Ruben Jay
Ruben Jay
Ruben Jay is an American broadcaster, media blogger, and podcast host. Currently, Ruben is the President of MultiMediaMouth.com and the executive producer and host of the popular podcasts You’re My Best Friend and ON AIR with Ruben Jay, exclusively on MultiMediaMouth.com. Follow Ruben on Instagram, Twitter, and Tiktok @TheRubenJay.

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