Snap tumbles as second set of earnings disappoint

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Snap tumbles as second set of earnings disappoint

User growth was a mixed bag. The company earns some revenue from branded or sponsored filters and lenses, but the bulk comes from advertisements. On average, equities analysts forecast that Snap Inc. will post ($0.56) EPS for the current year. Snap Inc. The company's 50-day moving average is $15.37 and its 200 day moving average is $19.24.

Image copyright Getty Images Image caption Snap's stock, which was priced at $17 for its public offering in March, is now trading at less than $14.

With the lackluster results and stock price declining, Spiegel did promise not to sell any of his own shares in the company, a move usually reserved to instill confidence.

Snap is not the only young company that has stumbled after going public while facing off with one of the tech giants. Before its I.P.O., the company said it was losing money and made no guarantee that those losses would subside. "... In addition to user attention, Snap will also have to battle for advertisers, who will ultimately side with the platform that has more solid and consistent user base and engagement in order to succeed".

SNAP has been the subject of a number of analyst reports.

The company surprised investors last quarter with a massive loss due to stock-based compensation, which included the almost $1 billion award for CEO Evan Spiegel. The stock has an average rating of Hold and an average target price of $20.95.

Snap also recently launched an opt-in Map feature; users can track their friends' whereabouts in real-time.

"Based on investor feedback, it is clear that nobody understands what other social networks are doing differently than Snapchat that would drive Evan to label other's actions "growth hacking" distinct from what Snapchat is doing", Greenfield said.

"The reality is they still lag behind most of the competition in fundamental audience targeting and measurement", said Sean Corcoran, an executive director at MullenLowe Mediahub, a digital advertising firm. That's far greater growth than Snapchat has seen.

"Given the amount of speculation around the lock-up expiration, I feel it is important to note that Bobby and I will not sell any of our shares this year", he was quoted as saying by Reuters during a call with analysts. While Google isn't commenting on Stamp, published reports say the company is in talks with the likes of Vox Media and Time Inc.to create such content.

The DAUs grew from 143 million in Q2 2016 to 173 million in Q2 2017 - an increase of 30.5 million or 21 per cent (year-over-year).

That's a combined 142 years of grooving meat footage, an average of close to 30 seconds for every Snapchat user. Chief among those tactics was making the app more accessible to Android users.

While Snapchat sends fewer notifications, it encourages daily use through Snapstreak, which calls out streaks in which two friends send each other snaps at least once for more than three consecutive days. "I'm glad they're dropping prices", she said.

Despite another disappointing performance, Snap cofounder and CEO Evan Spiegel put on a fearless face on Thursday.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, August 10th.

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