Suddenly the investors are snapped. On Friday, Snap shares plummeted from over $ 75 to $ 55. A price slide of -26%. The 1-year upward trend was clearly broken.
Do investors and consumers no longer want SnapChat?
Snap is an American social media company. One of the main products is the instant messaging service SnapChat, which runs on smartphones and tablets. This allows photos to be made visible to a certain number of users within seconds before they are then automatically deleted.
Snap increases sales by 57%
About the numbers that have now been reported. Snap grew revenue 57% year over year to $ 1.06 billion last quarter. Estimates ranged from $ 1.07 to $ 1.08 billion. This means that the analysts’ estimates were only slightly missed. But if you have been making losses for years despite strong sales increases and will not be in the black for the next few years, you will be under closer observation.
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–Volkmar Michler
Volkmar Michler has been the head of the German Trader editorial team for many years. He studied law, politics and history and completed additional training in business and economics.
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