The camera company, Snap, released its third fiscal quarter numbers Thursday after the stock exchange closed.
Accordingly, Snap cut its losses, as the stock was minus in the reporting period at $0.05 after -$0.140 per share a year ago. In terms of earnings, they fared better than analysts had expected; Previously, expert estimates for EPS were -0.097 USD.
Revenue increased significantly in the last quarter from $678.7 million to $1.07 billion and therefore lower than expected. Analysts previously believed the company would generate $1.10 billion in sales.
Snapchat investors have reacted particularly disappointingly to the forecast: In the fourth quarter of the year, the company expects only sales of between 1.165 and 1.205 billion US dollars – experts’ estimates previously were 1.36 billion US dollars.
Snap shares fell 26.64 percent to $55.09 in after-hours trading on the New York Stock Exchange.
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