Company Of The Day: Snap

October 22nd, 2021 by Trefis Team
+8.31%
Upside
10.51
Market
11.38
Trefis
SNAP: Snap logo
SNAP
Snap

What?

Snapchat’s parent company Snap (NYSE:SNAP) published stronger than expected adjusted earnings of $0.17 per share for Q3 2021. However, revenues fell short of estimates, coming in at about $1.07 billion. The company’s revenue outlook of between $1.16 billion to $1.2 billion for Q4 was also weaker than expected.

Why?

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Snap indicated that the revenue headwinds were due to changes to advertising tracking on Apple’s iOS operating system and the ongoing supply chain issues that are impacting the company’s advertising partners.

So What?

Snap stock fell by over 20% in after-hours trading on Thursday.

See Our Complete Analysis For Snapchat

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