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Submitted via IRC for TheMightyBuzzard
Shares in Snapchat’s parent company Snap Inc. have plummeted in value by almost a quarter – to the tune of $6 billion. The drop comes after the first earnings report since the company went public showed a slowdown in user growth and revenue.
On Tuesday, the company posted a $2.2 billion loss in the first quarter, much of which was tied to compensation following the company’s IPO in March. After adjusting for the expected expenses, losses of $188.2 million were reported – greater than analysts anticipated.
The company’s stock dropped 23 percent in after-hours trading following the report, wiping a staggering $6 billion off the company’s value, according to Reuters.
Source: RT
Q1: 05-08-17 Earnings Summary via Seeking Alpha
(Score: 0) by Anonymous Coward on Monday May 15 2017, @12:07AM
Snap Inc. is a camera company.
How many cameras sold? ZERO
In business, if you don't do any business, you go OUT OF BUSINESS.