Thursday, May 11, 2017

Snap’s $2.2 Billion Loss Caps Bumpy First Months as a Public Company - The New York Times

A big chill just went through the tech IPO domain

"Yet just two months into its life as a public company, Snap’s celebration may already be ending.

On Wednesday, Snap, the parent of the messaging app Snapchat, reported earnings that missed Wall Street expectations in almost every regard. Not only did Snap record a $2.2 billion loss for the first quarter, its revenue was lighter than expected, and the company disclosed that its user growth was decelerating sharply. Investors punished the company, sending its stock down more than 25 percent in after-hours trading."
Snap’s $2.2 Billion Loss Caps Bumpy First Months as a Public Company - The New York Times
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