In its second-ever earnings report, Snapchat's parent company disclosed revenue of $181.7 million during the second quarter and a loss of 36 cents per share. Snap's daily active user base grew 4% sequentially from 166 million in the first quarter. Snap's loss widened to $443 million, compared to $115.9 million in the same period past year.
But it wasn't all bad news.
Investors in Facebook, Twitter and now Snap care tremendously about user growth.
Snap reported average revenue per user of $1.05 in the second quarter, with most of its growth coming from North America, bolstering the company's argument that it's growing in the right places.
Daily active users: 173 million vs. 175 million expected. Even a beloved luminary like the breakdancing hot dog couldn't undo the gloom that had already settled on Snap's earnings report, which missed revenue and net loss estimates only slightly, but seemed to lead to another wave of disillusionment around the social-media company.
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It was during his absence that EPS reportedly strengthened his position in the party and emerged as a real threat to Dinakaran. Moreover, the appointment of General Secretary Sasikala , who appointed him, is also under investigation.
Also weighing on the stock: Employees will also be able to sell their shares on the public market for the first time next week, presenting an ultimate test of confidence in the company.
Spiegel and Murphy's commitment to hold on to their shares will provide a slight boost of confidence for anxious investors, said James Gellert, CEO of RapidRatings, which assesses the financial health of companies. The company said it counted 8 million more people were using its app each day in May, and now it counted a rise of 7 million. Finally, Stifel Nicolaus downgraded Snap from a "buy" rating to a "hold" rating and set a $20.00 target price for the company.in a research report on Friday, July 14th.
"Our dancing hot dog is most likely the world's first augmented reality superstar", Spiegel said.
Recent options transactions imply traders expect a 15 percent one-day swing for the stock in either direction following the quarterly results. Snapchat opens directly into the Camera, helping in creating a Snap and sending it to friends.
Instagram recently disclosed that Stories, which lets people share videos and snapshots in a continuous 24-hour loop, has amassed 250 million daily users in the year since it launched.
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The IOM counted 125 survivors from Thursday's incident, five confirmed dead and a further 50 missing, presumed drowned. Twenty-nine of the migrants were found buried in graves on a beach in Shabwa by IOM staff on Wednesday.
Chief executive officer Evan Spiegel has said he doesn't want to employ all the sneaky tricks that other internet companies use to look as if they have more fans than they really do. Investors have been anxious about the volatility of the stock, with a post-IPO ban on employees selling shares expiring on Monday.
"We believe, overall, that the transition to a bidded auction is the best way to grow our business over the long term", Spiegel said in response to a question about the changes.
In the second quarter, more than 60 percent of ads were bought through the self-serve and the ads API platform, Khan said.
"DAUs have slowed down while rivals like Instagram have demonstrated considerable growth".
Snap's monetization also remained somewhat sluggish this quarter, with overall quarterly ARPU coming in at $1.05. That growth rate is down by 0.8% from 5% growth of the previous quarter. The firm's revenue for the quarter was up 153.1% compared to the same quarter past year.
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However, a second report stated that due to a change in the Venom script, Riz Ahmed was no longer being considered for the role. With the success of revived Spider-Man franchise with Tom Holland , Sony Pictures is aiming to build its own extended universe.