Friday, August 11, 2017

Snap Stumbles Through Another Disappointing Quarter - The New York Times

Probably not a fun day ahead for Snap shareholders

"Snap will soon face a make-or-break year, said Norm Johnston, the chief strategy officer at Mindshare, a global media agency. “Either it will realize its full potential by delivering growth in daily users, or it will end up as the next Twitter,” the social media service that has been grappling with stalled growth, he said.

On Thursday, Snap did little to change its trajectory when it reported quarterly earnings that missed Wall Street projections. The company reported a loss of 36 cents a share, versus estimates of a 33-cent loss. Revenue rose to $181.7 million, versus expectations for $185.8 million. The company recorded a wider quarterly loss than a year ago of $443.1 million, up from $115.9 million."
Snap Stumbles Through Another Disappointing Quarter - The New York Times
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