On Tuesday, Snap Inc. s (SNAP.N) stock price declined by more than 11% in after-hours trading as investors digested the company s user and revenue growth after its second-quarter earnings report.
The social media company reported 238 Million daily active users that represent 17% growth and a slight miss from Wall Street s consensus of 238.5 Million.
The growing focus on brand safety and privacy across the entire industry places us in a unique position of strength as we have invested in these areas from the beginning of our business, Snap Inc. s Chief Executive Officer Evan Spiegel said in a statement during the second-quarter earnings report.
We are grateful that the resilience of our business has allowed us to remain focused on our future growth and opportunity, he added.
Snap Inc. reported a diluted net loss of 23 cents per share on its revenue worth $454.16 Million. According to FactSet (FDS), some analysts expected a loss of 22 cents per share on its average revenue worth $442 Million.
https://www.umarkets.com/en/news/snap-shares-fall-after-a-strong-earnings-report