http://money.cnn.com/2017/05/10/technolo...-earnings/
I don't quote the rest of the article since its less relevant.
I knew from the beginning that the king has no clothes on.
As much as I want to secure my gains from investing in put warrants, I will keep them for now. The share is at approximately 18$ while I see the real value in the single digits.
Quote:Quote:
Snap, crackle, drop.
Snap (SNAP), the parent company of Snapchat, whiffed on sales numbers and posted a staggering loss in its first earnings report since going public in March.
The company reported a net loss of $2.2 billion (yes, with a "B") for the quarter, due in large part to $2 billion in compensation costs tied to going public. Even without that one-time cost, however, Snap's loss doubled from the same quarter a year earlier.
Snap posted sales of $149.6 million for the March quarter, far below Wall Street estimates. Its user numbers also came in light. Snap had 166 million daily active users in the March quarter, an addition of just 8 million from the previous quarter.
Its stock fell as much as 25% in after hours trading Wednesday, erasing nearly all the gains since it went public at $17 a share.
Evan Spiegel, Snap's secretive 26-year-old CEO, told analysts on a conference call that he thinks about user growth "through the lens of creativity."
"The more that we can remove friction from this creative process, the more that people want to use this service, and that's our strategy," Spiegel said.
The vague response did little to ease Snap's nosediving stock.
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I don't quote the rest of the article since its less relevant.
I knew from the beginning that the king has no clothes on.
As much as I want to secure my gains from investing in put warrants, I will keep them for now. The share is at approximately 18$ while I see the real value in the single digits.