Snap is plunging after missing on earnings (SNAP)

12 August, 2017, 00:34 | Author: Marjorie Miles
  • Snap Grows Daily Users to 173 Million, But Delivers Disappointing Earnings

Vetr lowered Snap from a "buy" rating to a "hold" rating and set a $13.95 price objective on the stock.in a research note on Monday, July 31st.

The losses alone were steep. Analysts polled by Bloomberg had expected 175 million on average.

On top of these woes, Snap has a money problem.

This is not what Wall Street was hoping for.

The only reason Snap was able to go public in March with relatively little revenue, a scant track record and a insane rate of cash burn was that the company has been clever about repeatedly coming up with fresh ideas to keep its mostly young fans returning to the app.

Scaramucci to guest on Colbert's 'Late Show' next week
Colbert said he plans to ask Scaramucci what it's like inside the Trump White House and "how loyal he feels the president is now". Stephen Colbert could not be more excited for The Mooch to appear on " The Late Show " Monday night.

Public company investing is a stupid, rigged game. This quarter they were let down again.

At the moment, Google doesn't have a social media network that's actually popular and the digital advertising opportunities that could come from Snap and Google working together are worth considering.

While the doom doesn't spell imminent death, it's a sign that Snapchat could be relegated to the sidelines as a niche app for young people — or worse, a passing fad — rather than a major competitor for digital ad dollars like Facebook and yes, even the struggling Twitter.

Shares fell 16.7% in after-hours trading to $11.47, and have made new post-IPO lows.

If that's the case, it's time for Spiegel to rethink things. The only problem is that Facebook is crushing all newcomers. The user base grew by 21 percent over the past year to 173 million, which was slower than analysts had expected. A year ago, the company was adding more than 20 million users per quarter!

PS4 firmware 5.0 will bring 1080p 60fps Twitch streaming to PS4 Pro
Expect 5.00 sometime in the near future alongside an overhauled PlayStation App that isn't quite as useless as it now is. The company has yet to detail the patch publicly, but Eurogamer has obtained a copy of the update's release notes.

The company will host a conference call with investors and analysts at 5 pm E.T. today. Monness Crespi & Hardt cut Snap from a "buy" rating to a "neutral" rating in a report on Friday. This is over 6x Snap's total user adds over the first half of this year.

So Facebook copied it. That's on par with both Facebook (49%), and Instagram (46%).

Humanity has now watched Snapchat's animated hot dog gyrate and breakdance more than 1.5 billion times. It is also making it easier for advertisers to use the app, analysts say.

As easy as it is to sound the death knell, put on a crying lens and declare that it's the end for Snap and Snapchat, this could easily just be growing pains for the company after rushing its IPO. That includes nearly a month when the gadget was available outside the United States for the first time, leading to vending machines standing forlornly ignored outside tourist attractions in the UK, France, Germany, Spain and Italy.

Nowak said Snapchat is also facing tougher competition from Facebook-owned Instagram, which has been offering similar services. Though they probably wouldn't be almost as nice as a breakdancing hot dog.

Sarah Harding's breakdown on CBB raises concerns for doctors
Before heading into the Borehamwood bungalow last week, Jemma opened up to Closer magazine about her addiction to plastic surgery. She wrote: "I've managed to watch a couple of episodes and it's actually really weird seeing someone you know so well in there.

Now, Snapchat has a third breakthrough filter: a dancing hotdog, that has gyrated virtually on people's screens around the world.

Recommended:



Popular

Smugglers throw migrants in Yemen Sea, 5 die, 50 missing
According to survivors' testimonies, the smuggler pushed them to the sea after he saw men he perceived as "authority types". As per reports, more than 111,000 migrants arrived on the shores of Yemen previous year and in 2015 the figure was 100,000.

Giant inflatable chicken with golden hair stops by the White House
A giant inflatable chicken with a very familiar hairstyle has been placed in a park within eyeshot of the White House . The chicken reportedly cost Brar $1,300, was designed by Casey Latiolai, a Seattle artist, and was produced in China.

700000 insecticide-tainted eggs imported to UK: Government
While some European countries' eggs containing Fipronil residues have been sold as fresh eggs, this is not the case in the UK. The French government says a Belgian company - which it did not identify - mixed fipronil with another, lawful, substance.

AIADMK removes Dhinakaran as deputy general secretary
All these developments incidentally alarmed the BJP, which instructed both the factions to immediately merge. He asserted that the appointments he made were valid as well and these were in tune with party bye-laws.

Disney, North Korea Drive Dow Jones Industrial Average Lower
Disney dropped 5.2 percent as it reported flat third-quarter revenues due in part to weakness in its cable subscription business. Pyongyang said it was examining plans for attacking Guam, a US territory in the Pacific that has a USA military base.

FBI Agents Searched Paul Manafort's Home
Federal agents arrived at Manafort's home without warning and departed with records, according to the report . He has come under intense scrutiny in the investigation into Russian election meddling since previous year .

Peter Kraus would consider becoming next Bachelor - still seems like a lock
Fresh Off the Boat/Black-ish (Repeats)) 0.00% - MADtv (vs. iZombie (Repeat)) -28.57% - Bachelor in Paradise: After Paradise (vs. When Bryan makes his entrance, a lone "Woo!" is met with deafening silence - because this room is #TeamPeter or GTFO.

Fake solar eclipse glasses being sold online
Most of Asia, Africa, Europe, Australia and Antarctica received their own celestial show, a partial lunar eclipse on Monday night. Solar eclipses happen three or four times a year, but total eclipses happen just once every eighteen months.

Disney unveils new statute to honor toddler killed by alligator
Signs at other Walt Disney World bodies of water did caution visitors about alligators and snakes. Disney closed its beaches the next day as authorities searched for the alligator and the boy.

White Sox place concussed OF Willy Garcia on DL
The real risk of claiming a player in August is if he's expensive and the original team just says, "You take his contract". A judge sentenced 19-year-old Bryson White of Mason, Ohio, to three to 15 years in prison in the August 2016 robbery.