Snap is plunging after missing on earnings (SNAP)

Snap IPO

Snap shares are pluning after the company released its second quarter earnings report, trading down about 13%.

The company reported an adjusted loss of $0.16 a share, a penny below what Wall Street was anticipating. Revenue was also light, coming in at $181.7 million, well shy of the $189 million that was anticipated. 

Another number investors were paying keen attention to was the size of the company’s user base. That number was reported at 173 million daily active users, which was below the 175 million estimate.

Snap is down 26.47% since its initial public offering, not including Thursday’s after hours plunge.

Click here to watch Snap’s stock price in real time…

Snap

SEE ALSO: Insiders say Google was interested in buying Snap for at least $30 billion last year

Join the conversation about this story »

NOW WATCH: Wells Fargo Funds equity chief: Shorting anything is ‘playing with fire’

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s