{"id":19768,"date":"2022-07-22T11:29:55","date_gmt":"2022-07-22T18:29:55","guid":{"rendered":"https:\/\/marketdepth.com\/?p=19768"},"modified":"2022-07-26T10:08:44","modified_gmt":"2022-07-26T17:08:44","slug":"snapchat-craters-after-announcing-poor-earnings","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/snapchat-craters-after-announcing-poor-earnings\/","title":{"rendered":"Snapchat Craters After Announcing Poor Earnings"},"content":{"rendered":"\n

Snap Inc. (SNAP:NAS)<\/strong> nose dives after releasing disappointing second-quarter results. Snap is down 38% intraday after releasing the news.<\/p>\n\n\n\n

Snap’s stock is down more than 78% year-to-date after pessimism from analysts. This second-quarter earnings report proved that the analyst’s reports were correct.<\/p>\n\n\n\n

Snap explained that economic uncertainty and growing competition from other platforms like TikTok are eating into the company’s earnings.<\/p>\n\n\n\n

\u201cWe are not satisfied with the results we are delivering, regardless of the current headwinds.\u201d<\/p>The company stated<\/cite><\/blockquote>\n\n\n\n

During the Q2 earnings call, CEO Evan Spiegel didn’t offer any comment during the analyst Q&A which also provided growing concern about the company’s future. <\/p>\n\n\n\n

\u201cClearly with 2Q results & the way the call was handled, Snap has an even bigger hill to climb going forward and re-establish a track record of execution.\u201d<\/p>JPMorgan Analysts stated<\/cite><\/blockquote>\n\n\n\n

Snap said revenue this quarter is flat and declined to provide forward-looking guidance as the future looks incredibly challenging. <\/p>\n","protected":false},"excerpt":{"rendered":"Snap Inc. (SNAP:NAS) nose dives after releasing disappointing second-quarter results. Snap is down 38% intraday after releasing the news. Snap’s stock is down more than 78% year-to-date after pessimism from analysts. This second-quarter earnings report proved that the analyst’s reports were correct. Snap explained that economic uncertainty and growing competition from other platforms like TikTok… View Article<\/a>","protected":false},"author":3,"featured_media":18556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[10,31,17,7,16],"tags":[],"acf":[],"yoast_head":"\nSnapchat Craters After Announcing Poor Earnings - MarketDepth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/marketdepth.com\/snapchat-craters-after-announcing-poor-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Snapchat Craters After Announcing Poor Earnings - MarketDepth\" \/>\n<meta property=\"og:description\" content=\"Snap Inc. (SNAP:NAS) nose dives after releasing disappointing second-quarter results. Snap is down 38% intraday after releasing the news. Snap’s stock is down more than 78% year-to-date after pessimism from analysts. This second-quarter earnings report proved that the analyst’s reports were correct. Snap explained that economic uncertainty and growing competition from other platforms like TikTok... 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