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SNAP Reported Earnings

SNAP reported earnings
SNAP reported earnings
  • After Earnings Play, Everybody knows the three day rule where you wait 3 days after a stock reports earnings. You can wait 3 days to begin a starter position in SNAP, there is a lot of support at these price levels.

SNAP reported earnings reported earnings on July 25, 2023, and missed analyst expectations. The company's revenue came in at $1.07 billion, which was below the consensus estimate of $1.05 billion. SNAP's daily active users (DAUs) also missed expectations, coming in at 397 million, compared to the consensus estimate of 394.9 million.

The company cited a number of factors for the miss, including the ongoing war in Ukraine, rising inflation, and supply chain disruptions. SNAP also said that it was facing increased competition from other social media platforms, such as TikTok.

As a result of the miss, SNAP's stock price fell by more than 17% in after-hours trading. The company's CEO, Evan Spiegel, said that SNAP was "facing some headwinds" but that he was confident that the company would "continue to grow and innovate."

The miss by SNAP is a sign that the social media industry is facing some challenges. The war in Ukraine, rising inflation, and supply chain disruptions are all having an impact on the industry. Additionally, the competition from TikTok is increasing.

It remains to be seen how Snap will fare in the coming quarters. However, the company's CEO seems confident that it will be able to overcome the challenges it is facing.


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