Breaking News
Get 40% Off 0
Is NVDA a 🟢 buy or 🔴 sell? Unlock Now

Snap (SNAP) Q3 Earnings Report Preview: What To Look For

Published Oct 23, 2023 03:15AM ET Updated Oct 23, 2023 09:01AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Snap (SNAP) Q3 Earnings Report Preview: What To Look For
 
SNAP
+0.65%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Social network Snapchat (NYSE: SNAP) will be announcing earnings results tomorrow after market hours. Here's what investors should know.

Last quarter Snap reported revenues of $1.07 billion, down 3.89% year on year, in line with analyst expectations. It was a mixed quarter for the company, with slow revenue growth and underwhelming revenue guidance for the next quarter. On the other hand, it was good to see Snap's solid user growth, which was one of the few bright spots. The company reported 397 million daily active users, up 14.4% year on year.

Is Snap buy or sell heading into the earnings? Find out by reading the original article on StockStory.

This quarter analysts are expecting Snap's revenue to decline 1.69% year on year to $1.11 billion, a further deceleration on the 5.71% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.05 per share.

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates six times over the last two years.

Looking at Snap's peers in the consumer internet segment, only Netflix (NASDAQ:NFLX) has so far reported results, delivering top-line growth of 7.77% year on year, and beating analyst estimates by 0.02%. The stock traded up 16% on the results.

Read the full analysis of Netflix's results on StockStory. Triggered by the Federal Reserve's hawkish stance on interest rates, shares of technology companies have been facing sell-off since 2022 and while some of the consumer internet stocks have fared somewhat better, they have not been spared, with share price declining 5.24% over the last month. Snap is up 10.3% during the same time and is heading into the earnings with analysts' price target of $9.9, compared to share price of $9.5.

The author has no position in any of the stocks mentioned.

Snap (SNAP) Q3 Earnings Report Preview: What To Look For
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email