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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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Why the meme-stock frenzy is unlikely to repeat

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2 days ago

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May 14, 2024

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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2 days ago

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May 14, 2024

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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3 days ago

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May 13, 2024

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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