(CercleFinance.com) – Snap unveiled half-hearted quarterly results Thursday evening and presented disappointing forecasts, which earned it a fall of more than 30% in the first exchanges on Friday in New York.
The owner of the Snapchat messaging app reported last night that the number of active users rose 19% to 363 million in the third quarter.
Its turnover, which comes mainly from advertising revenue, increased accordingly by 6% to 1.13 billion dollars, while analysts expected it on average to 1.14 billion.
The average revenue per user (ARPU) nevertheless fell to 3.11 dollars in the third quarter, against 3.20 dollars in the previous quarter and 3.49 dollars a year earlier.
Its adjusted operating income (Ebitda) amounted to 73 million dollars, against 174 million dollars a year earlier, for a net loss increased to 360 million dollars, compared with -72 million in the third quarter of 2021.
For the fourth quarter, Snap said it was aiming for 375 million users, up 18% year-over-year, on flat revenue year-on-year, where Wall Street was aiming for revenue growth. 7% order.
Following these disappointing forecasts, BofA analysts downgraded their opinion on the value to ‘neutral’ with a price target lowered to 11 dollars.
The only design office to defend the group from Santa Monica (California) after this publication, Jefferies – which remains buying on the title – believes for its part that Snap has withdrawn to ‘winter this winter’, which does not mean that society is ‘gone forever’.
The title has lost 77% of its value since the beginning of the year.
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