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Search resuls for: "Snap’s"


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☆ Premarket stocks: Meta wowed Wall Street, but investors remain skeptical about tech
  + stars: | 2023-02-02 | by ( Clare Duffy Nicole Goodkind | Clare Duffy | Nicole Goodkind | ) edition.cnn.com   time to read: +9 min
New York CNN —Thursday afternoon will round out what has so far been a sobering earnings season for the Big Tech giants. Alphabet’s revenue will likely remain flat from last year and Amazon’s sales are expected to grow just shy of 6% year-over-year. All three companies’ profits are expected to fall from the year-ago quarter, with Amazon set to suffer the steepest drop with a decline of 40.6%. Then came the press conference, which led to a steep divergence between what the Fed thinks and what the Wall Street thinks. A cautionary tale: In mid-November, Ticketmaster’s site overloaded when fans tried to purchase pre-sale tickets for Taylor Swift’s upcoming tour.
☆ Snap Is Stuck in the Darkroom
  + stars: | 2023-02-01 | by ( Laura Forman | ) www.wsj.com   time to read: 1 min
If you can’t hold users’ attention with a good ol’ face swap, flower crown or puking rainbow, are you even still in the game? Fourth-quarter revenue, reported Tuesday afternoon, was essentially flat year on year—Snap Inc.’s worst growth on that basis as a public company. No formal guidance was given for the first quarter, but Snap did say revenue had fallen 7% versus last year quarter-to-date. If that trend continues, it will mark the first period of year-over-year revenue losses reported by the company, falling well shy of Wall Street’s forecast for low-single-digit growth. Snap’s shares fell by about 14% in after-hours trading following its report.
☆ Snap Warns of Sales Drop After Revenue Growth Stalls
  + stars: | 2023-02-01 | by ( Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
Snap’s growth figure was the lowest for the company since it went public. Snap Inc. warned sales in the current quarter are likely to drop after revenue growth stalled in the final three months of last year, illustrating the difficult market conditions social-media companies are having to navigate. The Snapchat parent said it generated $1.3 billion in sales in the fourth quarter, roughly flat from the year-earlier period and broadly in line with Wall Street’s expectations. The growth figure was the lowest for Snap since going public almost six years ago.
☆ Meta shares surge nearly 20% as Zuckerberg pledges to make 2023 a ‘year of efficiency’
  + stars: | 2023-02-01 | by ( Clare Duffy | ) edition.cnn.com   time to read: +3 min
New York CNN —For years, Facebook and its CEO Mark Zuckerberg invested heavily in growth, including in areas like virtual reality with unproven potential. All of that helped send shares of Meta up nearly 20% in after hours trading Wednesday. Meta reported nearly $32.2 billion in revenue for the quarter, down 4% from the year prior but ahead of the $31.5 billion analysts had projected. The guidance is somewhat better than Snapchat-parent Snap’s from earlier in the week, which said it expects first quarter revenue to fall between 2% and 10% compared to the previous year. The company also lost a total of more than $13.7 billion in its “Reality Labs” unit which houses its metaverse efforts.
☆ Meta Turnaround Could Trap Bears
  + stars: | 2023-01-31 | by ( Laura Forman | ) www.wsj.com   time to read: 1 min
Meta’s Instagram and Facebook platforms are said to be starting to see a path to recovery in terms of engagement. Snap’s results have been a popular bellwether for investors trying to bet on Meta Platforms’ quarterly earnings reports. This week, investors may want to ignore them. Meta will report fourth-quarter earnings Wednesday afternoon, following Snap’s report after the bell Tuesday. The social-media-giant-turned-metaverse architect had an abysmal 2022 in the stock market, logging a 64% decline in its share price to shed some $600 billion in market value.
☆ Snap stock plunges 15% as revenue growth stalls
  + stars: | 2023-01-31 | by ( Clare Duffy | ) edition.cnn.com   time to read: +3 min
Snap’s quarterly revenue was just shy of $1.3 billion, essentially flat from the year prior. Snap said it has already seen a roughly 7% revenue decline so far in the first quarter compared to the year prior. It estimates revenue for the first three months of the year will be down between 2% and 10% compared to the previous year. (Those figures were included in an investor letter, despite Snap saying it would not provide specific guidance for the quarter.) Snap (SNAP) shares fell as much as 15% in after-hours trading following the report.
☆ Big-Spending Chinese Tourists Are Coming Back, but Slowly
  + stars: | 2023-01-17 | by ( Wall Street Journal | ) www.wsj.com   time to read: 1 min
E4Snap’s Stock Has Fallen Almost 80% This Year: What Went Wrong Snap shifted from overdrive to reverse this year as it prepares for its lowest period of sales growth since going public. WSJ’s Meghan Bobrowsky explains how Snap’s dependence on digital ads led to its restructuring efforts. Illustration: Jacob Reynolds
☆ Why It’s Hard for Apple to Make iPhones Outside of China
  + stars: | 2023-01-05 | by ( Wall Street Journal | ) www.wsj.com   time to read: 1 min
E4Snap’s Stock Has Fallen Almost 80% This Year: What Went Wrong Snap shifted from overdrive to reverse this year as it prepares for its lowest period of sales growth since going public. WSJ’s Meghan Bobrowsky explains how Snap’s dependence on digital ads led to its restructuring efforts. Illustration: Jacob Reynolds
☆ Wagner: How Russian Mercenaries Help Putin in Ukraine
  + stars: | 2023-01-04 | by ( Wall Street Journal | ) www.wsj.com   time to read: 1 min
E4Snap’s Stock Has Fallen Almost 80% This Year: What Went Wrong Snap shifted from overdrive to reverse this year as it prepares for its lowest period of sales growth since going public. WSJ’s Meghan Bobrowsky explains how Snap’s dependence on digital ads led to its restructuring efforts. Illustration: Jacob Reynolds
☆ How Trump’s Taxes Became Public — And What They Reveal
  + stars: | 2022-12-30 | by ( Wall Street Journal | ) www.wsj.com   time to read: 1 min
E4Snap’s Stock Has Fallen Almost 80% This Year: What Went Wrong Snap shifted from overdrive to reverse this year as it prepares for its lowest period of sales growth since going public. WSJ’s Meghan Bobrowsky explains how Snap’s dependence on digital ads led to its restructuring efforts. Illustration: Jacob Reynolds
☆ China’s Rapid Reopening Tests Its Covid Preparedness
  + stars: | 2022-12-23 | by ( Wall Street Journal | ) www.wsj.com   time to read: 1 min
E4Snap’s Stock Has Fallen Almost 80% This Year: What Went Wrong Snap shifted from overdrive to reverse this year as it prepares for its lowest period of sales growth since going public. WSJ’s Meghan Bobrowsky explains how Snap’s dependence on digital ads led to its restructuring efforts. Illustration: Jacob Reynolds
☆ Why FTX Picked the Bahamas, and What Happens Now to the Crypto Hub
  + stars: | 2022-11-22 | by ( Wall Street Journal | ) www.wsj.com   time to read: 1 min
E4Snap’s Stock Has Fallen Almost 80% This Year: What Went Wrong Snap shifted from overdrive to reverse this year as it prepares for its lowest period of sales growth since going public. WSJ’s Meghan Bobrowsky explains how Snap’s dependence on digital ads led to its restructuring efforts. Illustration: Jacob Reynolds
☆ Why FTX Picked the Bahamas, And What Happens Now to the Crypto Hub
  + stars: | 2022-11-21 | by ( Wall Street Journal | ) www.wsj.com   time to read: 1 min
E4Snap’s Stock Has Fallen Almost 80% This Year: What Went Wrong Snap shifted from overdrive to reverse this year as it prepares for its lowest period of sales growth since going public. WSJ’s Meghan Bobrowsky explains how Snap’s dependence on digital ads led to its restructuring efforts. Illustration: Jacob Reynolds
☆ New & Notable: Latest releases from Brooks, Burrow and more
  + stars: | 2022-11-05 | by ( Zoe Malin | Zoe Malin Is The Associate Updates Editor For Select On Nbc News. | ) www.nbcnews.com   time to read: +8 min
This story is part of Select's New & Notable column, where we highlight our favorite product launches, major sales, what we're buying and some of our latest recommendations and advice. This week, we’ve got Burrow’s new shelving system, the latest Brooks running sneaker, Lalo’s bath collection for kids and more. Brooks debuted the Ghost 15 sneaker for men and women. The sneaker is also designed with 9% more recycled material than the Ghost 14. — Zoe Malin, associate updates editorI decided to take advantage of Sephora’s Holiday Savings Event to stock up on some of my favorite skin care essentials.
☆ Elon Musk owning Twitter should give everyone pause
  + stars: | 2022-10-29 | by ( Seth Fiegerman | ) edition.cnn.com   time to read: +7 min
Elon Musk, the mercurial billionaire, had agreed to buy Twitter for $44 billion the month before only to begin raising doubts about the deal soon after. Now, Musk joins the list of rich, white men who single-handedly control social platforms that collectively reach and shape the lives of billions of people around the world. And Musk, who will reportedly have “absolute control over Twitter” according to a shareholders’ agreement, promises to be uniquely disruptive. To those in the first camp, Musk serving as the sole decider at Twitter may be cause for celebration. Elon Musk is a conglomerate, and each arm of his empire potentially gives him more leverage, real or imagined, in advocating for the others.
☆ Snap’s revenue miss is a false read through to Club holdings Meta, Alphabet
  + stars: | 2022-10-21 | by ( Zev Fima Paulina Likos | Zev Fima | Paulina Likos | ) www.cnbc.com   time to read: +3 min
Shares of social media company Snap (SNAP) plummeted to a new 52-week low Friday on the back of a third-quarter revenue miss, with knock-on effects for internet Club holdings Meta Platforms (META) and Alphabet (GOOGL). But despite the market moves, Snap's results should not be seen as a read through to Meta and Alphabet, which are vastly more substantial entities than Snap. Snap, which has seen its stock come down by nearly 84% year-to-date, tumbled roughly 30% Friday, to $7.56 a share. But the Club thinks the market has mistakenly roped together these social media and internet giants, which have built multifaceted digital ecosystems, with Snap. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
☆ Snap stock falls nearly 25% after revenue hit by shrinking advertiser budgets
  + stars: | 2022-10-20 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +2 min
In a letter to investors, Snapchat’s parent company said its revenue growth was slowed by several factors, including growing competition and jitters from the advertisers who make up its core business. Shares of Snap fell nearly 25% in after hours trading following the earnings report. In late August, Snap announced plans to lay off some 20% of its more than 6,400 global employees, or more than 1,200 staffers. Much of that loss ($155 million) came from restructuring charges related to layoffs. Snap declined to provide financial guidance for the final three months of the year.
☆ Snap’s Stock Has Fallen Almost 80% This Year: What Went Wrong
  + stars: | 2022-10-14 | by ( Wall Street Journal | ) www.wsj.com   time to read: 1 min
WSJ Video Analysis: The Crimea Bridge Explosion, Examined An explosion that damaged the only bridge linking Russia to Crimea dealt a blow to the Kremlin and triggered a new escalation in the Ukraine war. WSJ examined footage of the blast and its aftermath to understand what happened. Photo composite: Maxar/Zuma Press
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