Thursday, 10 August 2017

Finance: Snap is slipping ahead of second quarter earnings (SNAP, GOOGL)


Snap's stock price is falling with the rest of the market, erasing gains made over the last week.

Snap is set to report its second quarter earnings after the bell Thursday, and investors seem slightly worried.

Snap is trading 0.88% lower on Thursday, as investors look ahead to earnings. In the week before earnings, Snap had started making gains and rose 2.43% to its current level.

Wall Street is expecting the company to report a loss of $0.33 per share on revenue of $185.78 million, according to data from Bloomberg.

Snap has been in an almost constant slide since its initial public offering and is down 20.6% from its $17 IPO price.

The company briefly turned its downward slide around after reports of a standing $30 billion acquisition offer from Google. Business Insider's Alex Heath said a strong relationship between the company's executives was a contributing factor to the offer, but Snap's CEO Evan Spiegel has thus far declined.

Snap is currently trading at $13.47.

Click here to watch Snap's stock price in real time...

from - Nigeria's entertainment & lifestyle platform online

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