Shares of Snap (SNAP -33.93%), the parent of Snapchat, were getting torched once again today as the company fell well short of analyst estimates in its fourth-quarter earnings report. Revenue growth was sluggish as the company failed to capitalize on a broader recovery in the digital advertising industry.As of 11:23 a.m. ET, the stock was down 35.3% on the news. Snap still can't turn a GAAP profitSnap said revenue in the quarter increased 5% to $1.36 billion, which missed the consensus at $1.38 billion. The ...

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As Snapchat struggles with declining revenue per user, the social media platform is looking to its burgeoning subscription offering, and its artificial intelligence (AI) capabilities therein, to bring in more revenue.The app’s parent company, Snap, reported in its Q4 and full year 2023 financial results Tuesday (Feb. 6) that average revenue per user (ARPU) dipped 5% year over year in the quarter, even as it rose by 2% in North America.Looking toward “accelerating and diversifying” its revenue growth going f ...

Snap (SNAP) reported fourth-quarter 2023 earnings of 8 cents per share, which beat the Zacks Consensus Estimate by 14.29% but declined 42.9% year over year.Revenues increased 4.7% year over year to $1.36 billion and missed the Zacks Consensus Estimate by 1.84%. The top-line growth was driven by the company’s focus on investing in direct-response business to deliver increased return on ad spend for advertising partners.The brand-oriented advertising business declined 3% year over year, while the direct-respo ...

MoffettNathanson analyst Michael Nathanson didn’t mince words in recapping Snap Inc.’s disappointing earnings report and subsequent Wednesday stock plunge. “Covering Snap might be one of the least enjoyable experiences inour careers as analysts,” he wrote. “Right up there with the years we spentcovering Twitter… and that is saying something.”That view isn’t a reflection on Snap’s SNAP, -33.09% management team or financial disclosures, according to Nathanson, but rather indicative of what he sees as confusin ...

Evan Spiegel, CEO of Snap Inc., speaks onstage during the Snap Partner Summit 2023 at Barker Hangar on April 19, 2023 in Santa Monica, California.Snap shares tanked 30% in Wednesday morning trading, a day after missing revenue estimates and issuing light guidance in its fiscal fourth-quarter earnings report. The company is struggling with a slower rebound from a tough 2022 advertising market than other firms like Meta.Snap is headed for one of its worst days on the market since its debut seven years ago. It ...

Snap (NYSE:SNAP) stock is falling on Wednesday as investors react to the social media company’s earnings report for the fourth quarter of 2023.The news sending SNAP shares lower today includes the company’s revenue of $1.36 billion in Q4. That’s below Wall Street’s estimate of $1.38 billion in revenue for the period. Even if it’s a 5% increase year-over-year from the company’s previous revenue of $1.3 billion.Also not helping SNAP stock is the company’s adjusted earnings per share of 8 cents. That’s despite ...

Key TakeawaysSnap shares plunged after the company missed analysts' quarterly sales expectations and issued a weaker-than-anticipated outlook for the current quarter amid slower digital advertising revenue caused by the Middle East conflict.The company's Snapchat+ subscription service added 2 million subscribers during the quarter, taking its total paid user count to 7 million.Snap shares find a confluence of support around $12 from a multi-month horizontal trendline and the 200-day moving average. Snap I ...

SANTA MONICA, Calif.--(BUSINESS WIRE)--Snap Inc. (NYSE: SNAP) has filed its Annual Report on Form 10-K for the year ended December 31, 2023, with the Securities and Exchange Commission. The report, which includes Snap Inc.’s audited financial statements, is accessible at investor.snap.com. A printed copy of the report may be requested free of charge by any stockholder by requesting a copy in writing to: Corporate Secretary, Snap Inc., 3000 31st Street, Santa Monica, California, 90405 USA. The report is als ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Credit: Unsplash/CC0 Public Domain Shares in social media company Snap, which runs the youth-focused Snapchat, plummeted on Tuesday after the company posted disappointing earnings. Snap's stock plunged by as much as 30 percent in after hours trading after the company said revenue in the final quarter of 2023 rose by five perce ...