Snapchat Plummet to New Lows as Losses Increase
Snap stock price dropped by more than 12.5% to $12.02, hitting new lows as Snap Inc reported losses amounting to $443 million, in the latest earnings release. Revenue rose to $182 million from $71 million in 2016.
” Stock price drops by 12.5% after earnings’ release “
The average number of users rose to 173 million, representing a 21% increase compared to the previous year. In 2017, Snap Inc was the largest IPO of 2017, and with market value rising to almost $34 billion (today: $15.94 billion).
Video: IPO Live at the NYSE
Video: What is Snapchat
The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals. Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.
Get The Wealth Insider Daily
- For Press Release, please contact email@example.com
- For Media-related enquiries, please contact firstname.lastname@example.org
- For Advertisement, please contact our official ad agency