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Snapchat Plummet to New Lows as Losses Increase

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).

Source: South China Morning Post, Wall Street Journal, Snapchat


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