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Snapchat on the decline? execs aren’t happy with results

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2 years ago

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Snap – best known for the social media app ‘Snapchat’ has reported its quarterly earnings, and company execs say the company can do better

Snap saw gains in both users and revenue, but it’s occurring at a much slower rate seen in past quarters.

In a note to investors, the company says its financial results do not reflect the scale of ambition and executives aren’t happy.

In a bid to regain momentum, Snap will “recalibrate” its hiring, goals, and investments.

Meanwhile, Snap co-founders Evan Spiegel and Bobby Murphy will remain on as the company’s CEO and CTO for another four years.

Spiegel and Murphy will be paid $1 per year with no additional equity, but have been promised a stock split if Snap’s share price reaches $40 within the next 10 years.

But it’s not all bad news for Snap, the company making one-point-one billion in revenue during quarter two, up from 982-million in 2021, adding 15 million more users.

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William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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China has pledged to “significantly increase” debt to jumpstart its economy

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2 days ago

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October 14, 2024

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Finance Minister Lan Foan announced plans to help local governments tackle debt, support low-income households, and boost the property market.

Investors have been urging such steps as China faces deflationary pressures and a sharp property market downturn.

However, no figure was provided for the stimulus package, leaving markets anxious about the strength and duration of the recovery effort.

Economists warn that this lack of clarity may prolong uncertainty until China’s legislature approves extra debt measures.

Concerns are rising that China may fall short of its 5% growth target, signalling deeper structural challenges ahead.

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Niche accountants proving essential to e-commerce success

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7 days ago

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October 9, 2024

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Expert explores the key benefits of partnering with accountants who specialise in niche industries.

In today’s fast-paced digital world, having an accountant who understands the intricacies of e-commerce can make all the difference in your business’s success.

Specialist accountants understand the specific needs of e-commerce businesses, helping to maximise tax savings, streamline operations, and improve financial health.

Niche accountants can identify opportunities to scale, optimise profit margins, and implement strategies that align with your business goals, ultimately drive growth.

Chris Rivera, Founder of The Ecommerce Accountants, joins to share his key insights into the industry.

#featured

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Money

Amazon’s 2024 Prime Day expected to make huge impact on tech sector sales

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7 days ago

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October 9, 2024

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Market experts believe Amazon’s upcoming event will drive a surge in sales, benefiting Amazon’s stock and boosting consumer tech companies that sell through its platform.

Experts predict that a short-term rally in retail and tech stocks could be seen as revenue spikes.

Founder/CEO of Unearthing Opportunities, and Board Advisor to Power Hero, Bradley A Gastwirth joins to unpack the latest market moves. #featured #trending

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