Snap earnings: Snapchat+ subscription service in focus
IG all-sessions stock Snap is gearing up to report its fourth-quarter results after the US closing bell tonight - what can we expect? Analysts project that Snap will announce a quarterly loss of 17 cents, on revenue of $1.38Bln.
However, this revenue estimate is higher than Snap's own forecast of sales of between $1.32Bln and $1.375Bln. Besides the top and bottom lines, the Snapchat+ subscription service is what investors will be looking at. it reached more than five million paying subscribers in the third quarter. In November, Snap announced a partnership with Amazon to enable US Snapchat users to buy products from online retailers without leaving the app. Also, it plans to cut its global headcount by about 10%. This was announced yesterday just before the start of the US session. No doubt it will be discussed in tonight's conference call. Over the last year, its share price has gained about 55%, but the stock remains very far from its 2021 highs.
(AI Video Sumary)
Snap
Snap, a social media company, is about to announce its financial performance for the fourth quarter. Experts predict that Snap will have a loss of 17 cents and make revenues of $1.38 billion, which is more than what Snap itself expected. One thing to watch out for is the progress of Snapchat Plus, a premium version of the popular Snapchat app that had gained 5 million paying subscribers in the previous quarter. Another interesting aspect is Snap's partnership with Amazon, which allows users to make purchases directly within the app. This feature helps to keep users engaged and active.
Snap's stock price
Snap is also planning to reduce its staff by 10% globally, and this news will likely be discussed during the conference call. Although Snap's stock price has increased by 55% in the past year, it hasn't reached its highest point in 2021. Currently, the stock is trading at around its initial public offering (IPO) price of $17. On Tuesday morning, it started at $16.86 on the investment trading platform.
For traders who are interested, this could be an opportunity to take advantage of potential fluctuations in Snap's earnings by using the investment trading platform. It means that traders can buy or sell Snap's shares based on how they expect the company's financial results to perform.
In summary, Snap is a social media company that is going to release its fourth-quarter financial results. While analysts expect a loss and higher revenues than Snap's forecast, investors will also be keeping an eye on Snapchat Plus and Snap's partnership with Amazon. The company is also planning to reduce its global staff. Although the stock price has increased, it is currently trading at its IPO price. Traders can use the investment trading platform to potentially benefit from the changing earnings figures of Snap.
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