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Snap misses growth estimates as user numbers stall

Snap misses growth estimates as user numbers stall

 

  • Snap Inc has announced that the rise in users, thanks to Covid-19 and lockdown measures, has petered out sooner then expected, with their new estimate lower then originally.
  • Stock prices fell 11% at the news before eventually paring losses to 6%
  • The amount of daily active users, something often closely watched by investors and advertisers rose 17% to 238 million users, 440,000 short of what was originally estimated.
  • During that time period, revenue from advertising sales increased 17% to $454.2 million for the quarter, well over the $440 million expectation

Source : https://www.theglobeandmail.com/business/article-snap-beats-second-quarter-revenue-estimates/

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