Facebook, Twitter and Google shares fall after Snap's report
Facebook, Twitter and Google shares fall after Snap's report
- 3940
- 2 min.
- 5 connections
Shares fall
Snap (SNAP) shares fell 21% amid a report of Q3 2021 earnings below market analysts' forecasts. The company cited the stronger negative impact of Apple's privacy rule updates, as well as the impact on advertising of global supply chain issues. Shares of Facebook, Twitter and Google also fell at non-trading time.
Shares in Snap (SNAP) fell 21.6% after the close of trading on Thursday, losing $16.21 a share, following the release of its Q3 fiscal 2021 report, which ended in September.
Snap shares have risen 50% since the start of the year and 105.8% in the past 12 months.
Snap report highlights
Snap reported record earnings per share of $0.17, up from market analysts' estimate of $0.08. Earnings rose 58% (from last year's figure) to a record $1.07bn, but came in below Wall Street forecasts of $1.10bn. The rate of growth slowed from the previous three quarters.
Snap user growth
Snap daily there are 360 million active users per dau, which is 4% more than 293 million reported in April.This is almost 23% more than the 249 million daily users reported a year earlier. In the fourth quarter, DAU exceeded the market forecast of 311,8 million and is expected to reach 316 to 318 million.
In comments on the report, Snap executives said there were two major negative factors that affected the company's revenue and earnings in the quarter.
- Apple's changes to user privacy rules in iOS;
- Global supply chain issues affecting the digital advertising market.
Market analysts pointed to the short-term nature of these issues, but acknowledged that they could have a significant impact on the digital advertising market in the short term and affect the financial results of the industry's largest companies: Google (GOOGL, GOOG), Facebook (FB) and Twitter (TWTR).
Shares of Facebook, Twitter and Google fell 4.4%, 4.8% and 1.96% respectively in after-hours trading on Thursday.
Facebook will report its quarterly profit and earnings on Monday 25 October after market close, while Twitter and Google's financial reports will be published on Tuesday 26 October also after market close.
Companies5 in the news
Related news
Last news
Companies rating
NEW YORK NEWS
News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova Development Director
Quotes
AllJohn Malkovich Wins Best Actor at Venice Film Festival Amid Oscar Buzz
Jimmy Kimmel Slams FCC ‘Threats’ as White House Fires Back
BBC Line of Duty star Martin Compston teases new series and says 'this is the end'
Game of Thrones’ Maisie Williams Addresses Arya Stark Spinoff Rumors and Possible Return
Mariska Hargitay Honors Gloria Steinem in Emotional Emmys Speech for ‘My Mom Jayne’
