In late May, Snap shares fell more than 40% after the company said it expected to fall short on its quarterly sales and profit estimates, which Q2 earnings confirmed.
But it has since fallen sharply as the company wrestled with changes in Apple’s privacy policy that hurt any company selling digital ads, including its competitors Meta, Twitter and TikTok. The camera and social media company Snap, which went public in 2017 at $27 per share, saw its stock price peak last October at $83. We are not satisfied with the results we are delivering, regardless of the current headwinds.” Key Background “Our financial results for Q2 do not reflect the scale of our ambition. “The second quarter of 2022 proved more challenging than we expected,” reads Snap’s second-quarter investor letter.
0 kommentar(er)
