Snap Inc SNAP shares are trading lower by 16.67% to $8.75 Friday morning after the company reported worse-than-expected first-quarter sales.
The company also received a number of analyst rating updates following the earnings print.
What Happened?
Snapchat reported first earnings of one cent per share, which came ahead of the 1 cent loss estimate, on revenues of $988.6 million, which missed the $1.01 billion consensus estimate.
The company said its daily active users (DAUs) increased 15% year over year to 383 million. It did not provide formal guidance for the second quarter...Read More
According to data from Benzinga Pro, SNAP has a 52-week high of $30.37 and a 52-week low of $7.33.
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