{"id":68866,"date":"2022-07-22T03:24:27","date_gmt":"2022-07-21T23:24:27","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=68866"},"modified":"2022-07-22T03:24:31","modified_gmt":"2022-07-21T23:24:31","slug":"snapchat-misses-on-q2-revenue-shares-fell-by-23","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/snapchat-misses-on-q2-revenue-shares-fell-by-23\/07\/22\/market-updates\/","title":{"rendered":"Snapchat misses on Q2 revenue, shares fell by 23%"},"content":{"rendered":"\n<p>Snap announced the company\u2019s second quarter earnings after the closing bell on Thursday, missing Wall Street&#8217;s expectations, so shares fell by 23% in after-hours trading.<br><br>Average revenue per Snapchat user fell 4.5% year-over-year, and the company said it was not providing Q3 guidance given the current financial climate.<br><br>Snapchat\u2019s earnings follow the company\u2019s May announcement that it would miss its prior revenue forecast for the quarter.<br><br>Tech stocks have been subject to general drop this year, with shares of Amazon down more than 25% and shares of Facebook parent Meta off 45% year-to-date. But even among beaten down tech stocks, Snapchat is a similar example. Shares are off a 65% year-to-date, putting it in the rare company of the likes of Netflix, which is down 63%.<br><br>The revenue miss was certainly disappointing, and I think it sort of confirmed and advertisement spending is slowing. In an attempt to raise revenue, Snapchat announced Snapchat+ subscription service in June. Priced at $3.99, Snapchat+ promises users access to exclusive, experimental, and pre-release features.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Snap announced the company\u2019s second quarter earnings after the closing bell on Thursday, missing Wall Street&#8217;s expectations, so shares fell by 23% in after-hours trading.Average revenue per Snapchat user fell 4.5% year-over-year, and the company said it was not providing Q3 guidance given the current financial climate.Snapchat\u2019s earnings follow the company\u2019s May announcement that it &hellip;<\/p>\n","protected":false},"author":13,"featured_media":68870,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[9810,7287,9842],"class_list":["post-68866","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-second-quarter-results","tag-snapchat","tag-tech-stock"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=68866"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68866\/revisions"}],"predecessor-version":[{"id":68871,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68866\/revisions\/68871"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/68870"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=68866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=68866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=68866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}