Comment on Snap Still Has Big Problems Despite Earnings Beat

Snap Still Has Big Problems Despite Earnings Beat

Snap (NYSE: SNAP) investors had second thoughts about the messaging app's second-quarter earnings results. Shareholders initially sent Snap stock soaring after hours on the news that it beat revenue estimates and narrowed losses more than expected, but the next day they reversed course and shares closed down 7%.The reason for the about-face was the realization that Snap lost three million subscribers during the second quarter.

 

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