Snap Financial Summary and Earnings Forecast
Q2 2023 Financial Results
Analysts were expecting a strong performance from Snap in Q2 2023, with revenue growth estimated at 171% year-on-year. However, the company reported a slight decline in revenue compared to the previous quarter. Revenue stood at $1,068 million, down from $1,111 million in Q1 2023.
Earnings and Analyst Predictions
Snap is set to report its second-quarter 2024 results on August 1st. Analysts predict that the company will report a loss per share of $0.157. This estimate is slightly higher than the adjusted earnings per share of $0.02 that analysts polled by FactSet expect for the June quarter.
As of June 30, 2022, Snap had $4.9 billion in cash and cash equivalents, as well as restricted cash. Class A Common Stock is expected to report earnings on 08/01/2024 after market.
In Q2 2021, Snap reported revenue of $982 million, an 11.6% increase from the prior year. The company's revenue has grown significantly over the past few years, and analysts expect this trend to continue in the future.
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