Snapchat parent Snap (NYSE: SNAP) reported fiscal 2022 second-quarter earnings after the markets closed on Thursday, July 21. The social media company disappointed investors by reporting slower-than-expected revenue growth. Snap had warned the market several weeks earlier that its second quarter was evolving worse than expected, but these results on July 21 managed to disappoint already lowered expectations. Read More...
Motley Fool
6 Red Flags for Snap’s Future
Snap’s (NYSE: SNAP) stock tumbled 27% during after-hours trading on Thursday, July 21, following the release of the social media company’s second-quarter earnings report. Back in May, Snap had already warned investors its second-quarter revenue would come in “below the low end” of its prior guidance for 20%-25% growth amid tough macroeconomic challenges. Snap’s net loss also widened from $152 million to $422 million, while its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) plummeted 94% to just $7 million.
