Snapchat (SNAP), the company behind the social media platform known for its ephemeral posts and camera technology, is among those sharing its latest round of earnings this week. It’s a bit of a mixed bag this time around. While the company missed on revenue and reported a loss on EPS, it wasn’t as bad as some analysts were expecting.
Snapchat’s Q2 2023 earnings results were shared in an official press release on its website today. In the report, Snapchat revealed a $1.07 billion quarter, which comes in just under the expectation of $1.1 billion. The company also posted a $0.02 loss-per-share against an expected loss of $0.04. “We are excited by the progress we have made delivering increased return on investment for our advertising partners, growing our community to 397 million daily active users, and reaching more than 4 million Snapchat+ subscribers,” said Evan Spiegel, CEO.
Source: CNN
Snapchat also provided guidance for the upcoming third quarter.
Today also brought financial news for Microsoft and Google by way of their own earnings reports. Shacknews will continue to share the biggest financial stories in technology.
Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_
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