Snap Sinks 20%+ After Hours Following Q2 Revenue Miss
$Snap Inc(SNAP.US$ sank more than 20% after hours Thursday after the social-media firm missed analyst estimates for Q2 revenues even as earnings per share came in as expected.
SNAP plunged 21.6% to $10.04 shortly before 4:30 p.m. ET after reporting revenues came in at $1.24 billion, missing the $1.25 billion that published reports said analysts’ consensus had called for.
Still, the company also said earnings per share came in at $0.02, reportedly matching analysts’ consensus forecast.
Snap also said daily active users came in a 432 million for the quarter, beating the 431 million consensus that analysts had reportedly expected.
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