![]() ![]() ![]() In August, Snap announced that it would lay off 20% of the company's roughly 6,000 employees as part of a major restructuring plan. Average revenue per user (ARPU) was down 11% to $3.11. Personal Loans for 670 Credit Score or Lowerĭaily active users increased 19% year-over-year, showing the company is still able to attract people to the service despite the struggles on the business side. ![]() Personal Loans for 580 Credit Score or Lower The Company authorized a $500 million buyback program.Best Debt Consolidation Loans for Bad Credit Daily active users rose 19% YoY to 363 million, sequentially higher than the 18% growth in each Q1 and Q2 2022. Revenues rose 5.7% year-over-year (YOY) to $1.13 billion, matching analyst estimates for $1.13 billion. The Company reported an adjusted earnings-per-share (EPS) profit of $0.08, excluding non-recurring items versus consensus analyst estimates for a loss of (-$0.01), beating estimates by $0.09. On October 20, 2022, Snap released its fiscal third-quarter 2022 results for September 2022. (NYSE: PINS) at $16 billion and Meta Platform at $333 billion. Snap can’t be ruled out as a potential acquisition target and likely the most affordable in the public markets at $14.74 billion compared to Pinterest Inc. Meta collects ARPU of $9.41 versus $3.11 for Snapchat. Meta Platform’s Instagram has 70% of the 13-year to 34-year-old population also on their platform. According to Snap, this includes the demographics of the U.S., U.K., Australia, France, and the Netherlands. There are estimates that 90% of the 13- to 24-year-old demographic are active Snapchat users and 75% of 13 years to 34-year-old population. Younger audiences have been the target groups for Snapchat and its advertisers. AR is less hassle than buying and wearing expensive headgear and being chained to a PC. Even though Meta has Oculus virtual reality headsets, Snap is ahead of competitors in implementing augmented reality technology. It has developed partnerships with brands like Dior, Gucci, and Adidas, putting it ahead of its competitors. Snap has always focused on beefing up with augmented reality (AR) services, especially its cameras. It is planning to continue rolling out its expansion to more countries. Snapchat+ offers exclusive experimental and pre-release features. Snapchat+ is a $3.99 per month pay service that generates recurring revenues and grew to over 2 million subscribers within months of its release. ![]() Unlike Twitter and other social platforms, Snap has been able to roll out a subscription plan expected to grow to 10 million users by the end of 2023. The Company took a (-$155 million) charge in Q3 2022 for this expense. Additionally, it implemented a $500 million stock buyback to help trim down the outstanding shares. Snap trimmed down its workforce by (-20%) or 6,400 workers, to cut (-$500 million) from annual expenses. Snap Cut Costs by $500 million Through Layoffs However, it is worth noting that consumers tend to use multiple social media apps, so it’s not a zero-sum game. This would be a boon to Snap and Meta Platforms to gain more users. They are pushing to ban TikTok completely in the U.S. Congress has pushed for a ban on Tik Tok on any government-issued phones. While TikTok is arguably the leader in video social media, there’s growing negative sentiment against the Chinese-owned company to the point of being a national security concern. The upside targets are the Fibonacci (fib) extension levels known as potential reversal zones (PRZs). This would trigger a weekly seed wave composed of sequentially higher MSLs. The second weekly MSL trigger formed on a $10.65 breakout. The weekly 20-period exponential moving average (EMA) continues to fall at $10.85. Shares continued to make lower highs on bounces and lower lows on drops before putting in a spinning top bottom and the first weekly market structure low (MSL) trigger on the breakout through $8.96 in December 2022. Shares peaked at $11.98 as a falling price channel formed in November 2022. SNAP stock fell under its pandemic lows of $7.89 before coiling higher on its Q3 2022 earnings results. ![]()
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