Snapchat maker Snap Inc. is set to report its second quarter earnings after the close of regular trading on Thursday.
Snap’s stock has fallen off a cliff since its hotly anticipated initial public offering earlier this year. Investors are worried the app maker won’t be able to grow its ad business in the face of mounting competition from Facebook.
Also weighing on the stock: Employees will also be able to sell their shares on the public market for the first time next week, presenting an ultimate test of confidence in the company.
Business Insider will be covering Snap’s second quarter results live. Stay tuned for more.
Here are the expected numbers for Snap’s Q2 earnings, based on analyst projections compiled by Bloomberg:
- Revenue: $189 million, up from $71.8 million in the year-ago period.
- Earnings (adjusted): loss of $0.15 a share.
- New daily active users: 10 million.
This story is developing. Check back for updates.