Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries TechMediaBreaks – Snap Inc. (NYSE: SNAP) Faces Downturn Despite Revenue Growth By: Investor Brand Network August 06, 2024 at 12:12 PM EDT Snap (NYSE: SNAP), the parent company of Snapchat, faced a significant downturn in its stock value during after-hours trading following its second-quarter earnings report for 2024. Despite a 16% year-over-year increase in total revenue, reaching $1.24 billion, the decline in the company’s stock reflects investor concerns about Snap’s future growth prospects, especially given the deceleration from the 21% growth recorded in the first quarter of 2024. The mixed financial results also highlighted a net loss of $249 million, which, despite being a 34% improvement from the previous year, still raises questions about the company’s profitability. Snap’s user engagement metrics, however, paint a more positive picture. The Daily Active Users (DAUs) reached 432 million, marking a 9% year-over-year increase, and Monthly Active Users (MAU) exceeded 850 million during the quarter. Additionally, the platform reported over 11 million subscribers to its premium subscription service, Snapchat+. CEO Evan Spiegel’s focus on growing the user base and scaling the advertising platform is evident, with active advertisers more than doubling year-over-year. These figures suggest a strong and growing engagement with Snap’s platform, despite the financial challenges. The forward guidance for the third quarter of 2024 was a primary concern for investors, with projected DAUs reaching 441 million, a modest 9% increase from Q2. However, the revenue guidance for the quarter, ranging from $1.33 billion to $1.37 billion, implies a year-over-year revenue growth of only 12% to 16%. This forecast fell short of analyst expectations and signaled a potential slowdown in Snap’s growth trajectory, contributing to the negative investor sentiment. Snap’s strategic investments in augmented reality (AR) technology and new feature development aim to enhance user experience and engagement. However, the company faces significant competition from other social media giants like Facebook (owned by Meta Platforms) and TikTok. These competitors have vast user bases and advanced advertising capabilities, posing a challenge to Snap’s growth and market share. Investors are now looking forward to Snap’s upcoming Partner Summit on September 17th for further updates on the company’s strategy and potential changes in direction. The market’s response to the Summit will be crucial for determining Snap’s future trajectory and its ability to regain investor confidence amidst stiff competition and financial challenges. To view the company’s most recent earnings release, visit https://ibn.fm/y3X8Z About Snap Inc. Snap Inc. is a technology company. We believe the camera presents the greatest opportunity to improve the way people live and communicate. We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. For more information, visit the company’s website at www.Snap.com. About TechMediaWire TechMediaWire (“TMW”) is a specialized communications platform with a focus on pioneering public and private companies driving the future of technology. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, TMW brings its clients unparalleled recognition and brand awareness. TMW is where breaking news, insightful content and actionable information converge. 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TechMediaBreaks – Snap Inc. (NYSE: SNAP) Faces Downturn Despite Revenue Growth By: Investor Brand Network August 06, 2024 at 12:12 PM EDT Snap (NYSE: SNAP), the parent company of Snapchat, faced a significant downturn in its stock value during after-hours trading following its second-quarter earnings report for 2024. Despite a 16% year-over-year increase in total revenue, reaching $1.24 billion, the decline in the company’s stock reflects investor concerns about Snap’s future growth prospects, especially given the deceleration from the 21% growth recorded in the first quarter of 2024. The mixed financial results also highlighted a net loss of $249 million, which, despite being a 34% improvement from the previous year, still raises questions about the company’s profitability. Snap’s user engagement metrics, however, paint a more positive picture. The Daily Active Users (DAUs) reached 432 million, marking a 9% year-over-year increase, and Monthly Active Users (MAU) exceeded 850 million during the quarter. Additionally, the platform reported over 11 million subscribers to its premium subscription service, Snapchat+. CEO Evan Spiegel’s focus on growing the user base and scaling the advertising platform is evident, with active advertisers more than doubling year-over-year. These figures suggest a strong and growing engagement with Snap’s platform, despite the financial challenges. The forward guidance for the third quarter of 2024 was a primary concern for investors, with projected DAUs reaching 441 million, a modest 9% increase from Q2. However, the revenue guidance for the quarter, ranging from $1.33 billion to $1.37 billion, implies a year-over-year revenue growth of only 12% to 16%. This forecast fell short of analyst expectations and signaled a potential slowdown in Snap’s growth trajectory, contributing to the negative investor sentiment. Snap’s strategic investments in augmented reality (AR) technology and new feature development aim to enhance user experience and engagement. However, the company faces significant competition from other social media giants like Facebook (owned by Meta Platforms) and TikTok. These competitors have vast user bases and advanced advertising capabilities, posing a challenge to Snap’s growth and market share. Investors are now looking forward to Snap’s upcoming Partner Summit on September 17th for further updates on the company’s strategy and potential changes in direction. The market’s response to the Summit will be crucial for determining Snap’s future trajectory and its ability to regain investor confidence amidst stiff competition and financial challenges. To view the company’s most recent earnings release, visit https://ibn.fm/y3X8Z About Snap Inc. Snap Inc. is a technology company. We believe the camera presents the greatest opportunity to improve the way people live and communicate. We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. For more information, visit the company’s website at www.Snap.com. About TechMediaWire TechMediaWire (“TMW”) is a specialized communications platform with a focus on pioneering public and private companies driving the future of technology. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, TMW brings its clients unparalleled recognition and brand awareness. TMW is where breaking news, insightful content and actionable information converge. To receive SMS alerts from TechMediaWire, text “TECH” to 888-902-4192 (U.S. Mobile Phones Only) For more information, please visit https://www.TechMediaWire.com Please see full terms of use and disclaimers on the TechMediaWire website applicable to all content provided by TMW, wherever published or re-published: https://www.TechMediaWire.com/Disclaimer TechMediaWireLos Angeles, CAwww.TechMediaWire.com310.299.1717 OfficeEditor@TechMediaWire.com TechMediaWire is powered by IBN
Snap (NYSE: SNAP), the parent company of Snapchat, faced a significant downturn in its stock value during after-hours trading following its second-quarter earnings report for 2024. Despite a 16% year-over-year increase in total revenue, reaching $1.24 billion, the decline in the company’s stock reflects investor concerns about Snap’s future growth prospects, especially given the deceleration from the 21% growth recorded in the first quarter of 2024. The mixed financial results also highlighted a net loss of $249 million, which, despite being a 34% improvement from the previous year, still raises questions about the company’s profitability. Snap’s user engagement metrics, however, paint a more positive picture. The Daily Active Users (DAUs) reached 432 million, marking a 9% year-over-year increase, and Monthly Active Users (MAU) exceeded 850 million during the quarter. Additionally, the platform reported over 11 million subscribers to its premium subscription service, Snapchat+. CEO Evan Spiegel’s focus on growing the user base and scaling the advertising platform is evident, with active advertisers more than doubling year-over-year. These figures suggest a strong and growing engagement with Snap’s platform, despite the financial challenges. The forward guidance for the third quarter of 2024 was a primary concern for investors, with projected DAUs reaching 441 million, a modest 9% increase from Q2. However, the revenue guidance for the quarter, ranging from $1.33 billion to $1.37 billion, implies a year-over-year revenue growth of only 12% to 16%. This forecast fell short of analyst expectations and signaled a potential slowdown in Snap’s growth trajectory, contributing to the negative investor sentiment. Snap’s strategic investments in augmented reality (AR) technology and new feature development aim to enhance user experience and engagement. However, the company faces significant competition from other social media giants like Facebook (owned by Meta Platforms) and TikTok. These competitors have vast user bases and advanced advertising capabilities, posing a challenge to Snap’s growth and market share. Investors are now looking forward to Snap’s upcoming Partner Summit on September 17th for further updates on the company’s strategy and potential changes in direction. The market’s response to the Summit will be crucial for determining Snap’s future trajectory and its ability to regain investor confidence amidst stiff competition and financial challenges. To view the company’s most recent earnings release, visit https://ibn.fm/y3X8Z About Snap Inc. Snap Inc. is a technology company. We believe the camera presents the greatest opportunity to improve the way people live and communicate. We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. For more information, visit the company’s website at www.Snap.com. About TechMediaWire TechMediaWire (“TMW”) is a specialized communications platform with a focus on pioneering public and private companies driving the future of technology. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, TMW brings its clients unparalleled recognition and brand awareness. TMW is where breaking news, insightful content and actionable information converge. To receive SMS alerts from TechMediaWire, text “TECH” to 888-902-4192 (U.S. Mobile Phones Only) For more information, please visit https://www.TechMediaWire.com Please see full terms of use and disclaimers on the TechMediaWire website applicable to all content provided by TMW, wherever published or re-published: https://www.TechMediaWire.com/Disclaimer TechMediaWireLos Angeles, CAwww.TechMediaWire.com310.299.1717 OfficeEditor@TechMediaWire.com TechMediaWire is powered by IBN
