Tech stocks get ready for a rocky road ahead October 24, 2022 BIG TECH braces itself for another testing earnings season, as the biggest names in Silicon Valley post their quarterly figures this week. Kicking off the tumble last Friday, Snapchat posted a rocky quarter, citing squeezed ad spend and ongoing macroeconomic uncertainty as the main driver. Not only has Snapchat’s parent firm lost a quarter of [...]
Advertising cuts continue to sting Snapchat October 21, 2022 Snapchat’s growth continued to plateau this quarter as the advertising slump continues for the social media company. Falling well below most Wall Street estimates, Snap’s said revenue climbed a humble six per cent to $1,13bn, while net losses widened from $72m to $360m. Adjusted earnings before interest, taxes, depreciation, and amortisation was $73m, compared to [...]
Snap snaps and Big Tech feels the heat: What’s next for advertising? September 6, 2022 City A.M. chats with sustainable advertising platform WeAre8 to chat about the future of advertising in an age of distraction and economic turmoil.
Snap culls workforce by a fifth as firm scrambles for revenue growth August 31, 2022 Snap confirmed that it would be cutting its 6,500-strong workforce by a fifth as it struggles to ride the advertising slump.
Losses deepen for Snap despite growing daily users July 22, 2022 Snapchat owner Snap posts deeper losses in the second quarter, as well as dwindling revenue growth.
Snap trials NFT filters as tech firm fights for Gen Z attention July 13, 2022 Snap may be on the verge of non-fungible token filters as the tech company continues to battle its rivals.
Snapchat’s shares slump as chief exec warns against revenue and hiring slowdown May 24, 2022 Snapchat has warned it would be slowing its hiring process, warning investors that revenue would slow in the coming months, hitting the low-end of estimates.
Snapchat’s UK boss Ed Couchman: Snap looks to snap back May 9, 2022 Five years ago, Snapchat’s parent firm Snap floated on the New York Stock Exchange in what was hailed as a milestone for the once-disruptor in the social media landscape. The plucky underdog – at least compared to other messaging and social media apps – listed at $24 a share in an IPO twelve times oversubscribed. [...]
Snap shares skyrocket 30 per cent as it records user boom February 3, 2022 Snap reported better-than-expected fourth quarter revenue and user growth today, and provided a first quarter outlook that surpassed analyst estimates, sending its shares up 30 per cent in trading after the bell. The results indicate Snap has avoided additional damage from Apple’s privacy changes, which were introduced last year and allow users to prevent apps [...]
Snap and Google push to protect younger users as the UK closes in on big tech January 19, 2022 Snap has said it is making a number of app changes to “protect 13 to 17 year olds”, including restricting its friend recommendation feature known as ‘Quick Add’, as well as new parental controls.