![](/style/images/good.png)
![](/style/images/bad.png)
Snap stock down 25% as the social network struggles
source link: https://finance.yahoo.com/news/snap-stock-down-25-social-212906126.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Snap stock down 25% as the social network struggles
S&P Futures
3,664.00-11.25(-0.31%)Dow Futures
30,317.00-36.00(-0.12%)Nasdaq Futures
11,019.25-71.50(-0.64%)Russell 2000 Futures
1,706.70-2.70(-0.16%)Crude Oil
85.71-0.27(-0.31%)- 1,626.60-10.20(-0.62%)
Silver
18.50-0.19(-1.04%)EUR/USD
0.9777-0.0010(-0.10%)10-Yr Bond
4.22600.0000(0.00%)- 29.98-0.78(-2.54%)
GBP/USD
1.1203-0.0031(-0.28%)USD/JPY
150.3120+0.2220(+0.15%)BTC-USD
19,067.72-74.56(-0.39%)CMC Crypto 200
431.82+0.42(+0.10%)FTSE 100
6,943.91+18.92(+0.27%)Nikkei 225
26,902.33-104.63(-0.39%)
Snap stock down 25% as the social network struggles
Snap reported its third-quarter earnings Thursday, the first social media company to offer a financial update amid ongoing economic tumult this quarter.
The company, which has seen its stock price plunge to a fraction of what it was worth during 2021's highs, missed analyst expectations on revenue, bringing in $1.13 billion compared to the $1.14 billion anticipated. Snap's stock dipped from around $11 per share to $8 in late trading following the report.
Snap's revenue is up 6% this quarter, a number that doesn't compare favorably to previous periods of double-digit growth. The company's net loss accelerated to $360 million, which includes $155 million in "restructuring charges."
The company's daily active users were up 57 million to 363 million in Q3, a 19% increase from the same period last year.
"This quarter we took action to further focus our business on our three strategic priorities: growing our community and deepening their engagement with our products, reaccelerating and diversifying our revenue growth, and investing in augmented reality," CEO Evan Spiegel said of the quarter.
While other social networks are similarly struggling due to a combination of broader economic factors, ascendant competitors and the still-reverberating changes from Apple's ad tracking changes, Snap in particular has taken a beating. In August, the Verge reported that Snap planned to lay off a fifth of its workforce, or around 1,200 employees.
The company didn't offer a forecast for the third-quarter results and similarly declined to make predictions about its upcoming quarter.
- Zacks
Here's Why Imperial Oil (IMO) is a Strong Value Stock
The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.
16h ago - Zacks
Snap-on (SNA) Shares Rise as Q3 Earnings & Sales Top Estimates
Snap-on's (SNA) Q3 results reflect gains from robust organic sales growth, along with progress on its Rapid Continuous Improvement process and other cost-reduction initiatives.
17h ago - Investor's Business Daily
Dow Jones Futures Rise: Tesla Stock Skids On Earnings, Elon Musk Comments
Futures reversed higher. Elon Musk sees an "epic" Q4 after mixed Tesla earnings, but sees some China and European weakness. Tesla stock fell.
17h ago - American City Business Journals
Snap posts deeper Q3 loss as revenue takes hit from weaker ad budgets
Snap Inc. reported a wider third-quarter loss compared with a year ago as revenue grew slower than expected. The Santa Monica, California-based company, which operates the photo- and video-sharing app Snapchat, on Thursday posted a third-quarter net loss of $360 million, hit by a $155 million restructuring charge due to company layoffs. Shares of Snap (NYSE: SNAP), which released its results after the close of markets in New York, fell 25% in after-hours trading.
8h ago - Zacks
Enduring This Market's "Pig Through the Python"
The "pig," in this case, represents inflation and its tentacles into the global economy. The "python" is the domestic economy.
8h ago - Yahoo Finance Video
Snap earnings: 'Disappointment really came on the average revenue per user,' analyst says
CFRA Research Senior Equity Analyst Angelo Zino joins Yahoo Finance Live to evaluate Snap earnings and the outlook for the social media platform.
9h ago - MarketWatch
Warren Buffett purchased more than 20 million shares of this stock in 2022. And it has a 133% return. But can that growth sustain?
Pros warn there are “just as many who have lost” trying to game the strategy. Here's what you may want to do instead.
19h ago - Yahoo Finance Video
Tesla stock continues to slide following Elon Musk's appearance on the earnings call
Yahoo Finance Live anchors discuss how investors are responding to Tesla earnings and comments from CEO Elon Musk.
10h ago - TheStreet.com
Elon Musk Prepares Huge Gift for Tesla Investors
Elon Musk took out the carrot. The CEO of Tesla tried on October 19 to reassure the electric vehicle maker's shareholders after a completely disastrous first half of October for Tesla shares. Tesla shares have lost 16.3% since September 30, which translates into a decline in market value of approximately $135 billion.
1d ago - Motley Fool
Why Nokia Stock Just Flopped
Shares of onetime cellphone giant now turned telecommunications infrastructure company Nokia (NYSE: NOK) plunged after it reported an earnings miss this morning. Analysts had forecast Nokia would earn "comparable" operating profits of 690.6 million euros ($676 million) in its fiscal third-quarter report, but Nokia reported a comparable operating profit of only 658 million euros. As of 12:35 p.m. ET, Nokia stock is down 7.8%.
12h ago - MarketWatch
‘Fragile’ Treasury market is at risk of ‘large scale forced selling’ or surprise that leads to breakdown, BofA says
The world's deepest and most liquid fixed-income market is "potentially one shock away from functioning challenges," said BofA strategists.
11h ago - MarketWatch
Intel reportedly to start ‘targeted’ layoffs in November
Intel Corp. is planning on announcing "targeted" layoffs in November, according to a report late Thursday, citing an internal video shared with employees.
7h ago - TipRanks
Down More Than 40%: These 3 ‘Strong Buy’ Stocks Are Trading at Steep Discounts
Is the market truly ready for a sentiment shift? According to a recent BofA survey, there are signs the foundations for one are taking shape right now. The survey showed that the average cash level in investors' portfolios in October hit 6.3%, a level not seen since April 2001 and some way higher than the long-term average of 4.8%. So, there’s plenty of cash waiting on the sidelines and ready to be deployed. With the Fed potentially easing its monetary policy next year, BofA thinks a rally in th
1d ago - Zacks
Apple (AAPL) Earnings Expected to Grow: Should You Buy?
Apple (AAPL) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
16h ago - Motley Fool
Why Ford Stock Dropped Today
Shares of Ford (NYSE: F) stumbled today as investors processed comments made by Philadelphia Federal Reserve President Patrick Harker that the Fed is nowhere near done hiking interest rates. Ford investors are worried that continued aggressive increases in interest rates will slow the economy too much and end up hurting vehicle sales. Ford's share price wasn't moving all that much earlier in the day, but it began tumbling once Harker's comments were published.
9h ago - Yahoo Finance Video
Snap stock continues to plunge following earnings miss
Yahoo Finance's Seana Smith discusses how Snap stock and other social media stocks are moving in after hours trading.
9h ago - Motley Fool
Why Rumble Stock Tumbled by 13% Today
Rumble (NASDAQ: RUM) was rumbling quite a bit on the market Thursday but for the wrong reason. After being fingered as a lousy stock by a pundit and divulging rather weak financials, the ambitious online video company saw its share price erode by just shy of 13% on the day. Thursday morning, Edwin Dorsey of The Bear Cave newsletter published a post entitled "Problems at Rumble."
7h ago - Zacks
Kinder Morgan (KMI) Q3 Earnings Miss Estimates, Revenues Beat
Lower pipeline volumes of gasoline and diesel fuel hurt Kinder Morgan's (KMI) earnings in Q3.
17h ago - Motley Fool
Why Lam Research Stock Jumped This Week
Shares of Lam Research (NASDAQ: LRCX) rose as much as 16.5% this week, according to data from S&P Global Market Intelligence. The semiconductor equipment company posted solid third-quarter earnings and revenue and gave its early outlook for 2023. On Oct. 19, Lam Research released its earnings for the three months ending in September.
5h ago - Motley Fool
Why LM Ericsson Stock Is Crashing Today
Shares of Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) fell hard on Thursday, following a third-quarter earnings report that fell short of market expectations. Ericsson's stock traded 15.1% lower at 1:20 p.m. ET, having fallen as much as 19.5% earlier in the day. The Swedish maker of telecom-grade networking equipment saw Q3 sales rise 21% year over year to SEK 68 billion ($6 billion).
11h ago - TipRanks
Jamie Dimon Predicts More Doom and Gloom Ahead; Here Are 2 ‘Strong Buy’ Dividend Stocks to Protect Your Portfolio
You don’t get to head one of the world’s largest banks if you don’t know a few things about economics – and so when J.P. Morgan’s CEO Jamie Dimon speaks, investors listen. And lately, what Dimon has to say isn’t nice to hear. "We're just getting closer to what you and I might consider bad events," was the warning Dimon issued on J.P. Morgan’s earnings call last week. So, what are these bad events, then? The CEO thinks another 20% decline for the S&P 500 is not out of the question, a drop which w
2d ago - Zacks
Whirlpool (WHR) Lags Q3 Earnings and Revenue Estimates
Whirlpool (WHR) delivered earnings and revenue surprises of -19.68% and 8.62%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?
8h ago - Zacks
Alphabet (GOOGL) to Report Q3 Earnings: What's in the Cards?
Alphabet's (GOOGL) third-quarter results are likely to reflect strength across the search, ad and cloud businesses. Solid momentum across Android, Meet and Waymo is expected to have been a tailwind.
11h ago - Zacks
Danaher's (DHR) Q3 Earnings Beat, Up Y/Y on Higher Sales
Danaher's (DHR) Q3 results benefit from higher revenues across all segments. Organic sales rise 10%, while acquisition//divestitures boost sales by 1.5%.
13h ago - Bloomberg
Snap Shocks Market Again, Fueling $29 Billion Social Media Slump
(Bloomberg) -- For the third time in as many quarters, disappointing results from Snap Inc. are roiling social media stocks and adding to signs that the economic slowdown is deepening.Most Read from BloombergChina Summons Chip Firms for Emergency Talks After US CurbsTrump Deposed in Suit by Investors Claiming Fraud in ‘Apprentice’ Videophone PitchesLiz Truss Odds: The Front-Runners to Replace the Prime MinisterWeed Is Coming to Circle K Gas Stations in US Next YearTrump Prosecutors See Evidence
5h ago - TipRanks
Forget Tesla: Here Are 2 Lesser-Known EV Stocks to Watch
Everyone knows by now that electric vehicles (EVs) are the future and sector leader Tesla is already a world-famous brand. While those that cottoned on early to the opportunity have done well by backing Tesla, the sector presents plenty of other opportunities for investors, especially now that government policies are tilting heavily in EVs’ favor. Recent times have seen the passing of the Inflation Reduction Act (IRA) which contains initiatives and tax credits to help accelerate EV adoption, whi
8h ago - MoneyWise
Want to be Uncle Sam's landlord? Earn up to 15.2% yield with these REITs that rent to the US government
We all pay taxes, so why not get some money back?
19h ago - MarketWatch
This musician retired after making $170 million in the stock market. Now he’s sharing his secrets.
Boston Pops clarinetist Edward Avedisian says today is a "fabulous time to get started. ... Stuff is just going to explode."
11h ago - TheStreet.com
3 Dividend-Paying Tech Stocks With Yields Over 5%
When investors are looking for dividend stocks to buy, they may not immediately think of technology stocks. This is especially true given the massive selloff in the broader market in 2022, pushing many dividend stocks into high-yield territory. Let's take a look at three technology stocks that all have at least a 5% yield, that we like today for income investors.
10h ago - Zacks
Rise in Aftermarket Service to Aid Boeing (BA) in Q3 Earnings?
Boeing's (BA) Q3 results are likely to reflect solid revenue growth in its service business segment. Higher 737 deliveries and improved aftermarket service must have boosted cash flow
12h ago - Motley Fool
These 2 Stocks Are Getting Crushed Late Thursday
Early on, it looked as though the stock market might have a solid day on Thursday, with the Dow Jones Industrial Average (DJINDICES: ^DJI), Nasdaq Composite (NASDAQINDEX: ^IXIC), and S&P 500 (SNPINDEX: ^GSPC) all posting sizable advances. Both Snap (NYSE: SNAP) and SVB Financial (NASDAQ: SIVB) have substantial followings in the investing community, but both saw their shares decline sharply after they announced their latest quarterly results. Shares of Snap fell by more than 25% in after-hours trading late Thursday, dropping to multiyear lows following a disappointing third-quarter report.
7h ago - Insider Monkey
12 Best Momentum Stocks To Invest In
In this article, we will look at the 12 best momentum stocks to invest in. If you want to explore similar stocks, you can also take a look at 5 Best Momentum Stocks To Invest In. Momentum investing has long been a popular strategy among expert investors and retail investors alike. Simply put, momentum investors […]
6h ago - Reuters
Analysis-As U.S. Treasuries tumble, some investors say turning point is near
Some investors believe Treasury yields are close to peaking, even as markets continue pricing in more hawkishness from a Federal Reserve bent on taming the worst inflation in decades. It's a refrain that has been heard more than once in 2022, as a steep selloff in Treasuries steamrolls investors who bet markets would soon reverse, while battering stocks and fueling the dollar’s climb. The tumble in bonds has intensified in recent days, as U.S. Treasury yields - which move inversely to prices - hit their highest levels since the 2008 global financial crisis on concerns that the Fed would need to raise rates more aggressively to bring down consumer prices.
48m ago - TheStreet.com
Is AT&T Stock Finally a Buy? The Chart Hints at the Answer.
AT&T stock is rallying after a top- and bottom-line beat. The charts hold the clue as to whether the rally can continue.
16h ago - Zacks
Visa (V) to Post Q4 Earnings: Here's What You Can Expect
Visa's (V) fiscal fourth-quarter 2022 results are likely to reflect higher transactions and payment volume.
13h ago - Zacks
NextEra Energy (NEE) Dips More Than Broader Markets: What You Should Know
NextEra Energy (NEE) closed at $73.64 in the latest trading session, marking a -1.89% move from the prior day.
1d ago - TipRanks
2 “Strong Buy” Penny Stocks That Could Rally to $14 (Or More)
We’re in a volatile bear market right now, and key riddle investors need to answer is, which stocks are going to bring the best returns, even in today’s uncertain conditions. One market segment that can’t be ignored is the low-cost penny stocks. These equities, typically priced under $5 per share, offer the best combination of risk and reward: a minimal cost of entry, and frequently triple-digit upside potential. Going beyond the argument that you get more for your money, even minor price apprec
16h ago - Motley Fool
Why Allstate Shares Crashed Today
The insurance company is trapped between a poorly performing stock market and its rising costs of payouts.
11h ago - Motley Fool
Why Zoom Stock Was Up 6% on Thursday
Zoom (NASDAQ: ZM) was beating the market Thursday: Its shares were up by 6% as of 12:45 p.m. ET compared to a 0.1% drop in the S&P 500. The tech-heavy Nasdaq Composite was up by 1.1% in early afternoon trading, and the broad factors driving its bounce were the same ones underpinning Zoom's move. Its price-to-sales ratio has also plunged, reflecting investors' pessimism about Zoom's growth prospects now that workplace behaviors are reverting to more normal patterns.
12h ago - MarketWatch
Vanguard ‘not confident’ U.S. Treasury rates have peaked after painful bond-market losses. Why ‘risk-reward profiles’ still appear more attractive across fixed income
U.S. Treasury rates may have yet to peak after surging this year, but higher yields have made bonds more attractive in tumultuous markets as investors face a likely recession next year, according to Vanguard Group.
17h ago
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK