William L. Moore
All posts from William L. Moore
William L. Moore in Insider trading,

Snap Misses Q2 Estimates

Thursday afternoon, Snap Inc (NYSE: SNAP) reported quarterly earnings for only the second time as a public company.

The social media upstart reported an earnings loss of 36 cents per share (adjusted to a 16-cent loss) from sales of $181.67 million, against estimates of a 15-cent loss and $186.22 million in revenue.

Snap added about 7 million daily active users during the quarter; Q2 total DAUs came in at 173 million, about 2 million short of estimates.

Shares fell more than 8 percent following the release. The stock traded at $13.05 at time of publication, down about 5 percent in after-hours trading. Read more

The shares have all chances to break out a falling wedge and show us some upside.