According to a TechChrunch report, Snapchat added 4.5 million users in Q3 and earned $207.9 million in revenue with a loss of $0.14 per share.

Talking about Snap’s share price decline and loss, Josh Constine says, “Snap’s share price closed at $15.12 today before earnings were announced. The share price fell more than 16 percent when the awful earnings were announced, bringing the share price down to hover around $12.65. Snap will have to hope its plan for a sweeping redesign and a shift from reverse-chronological Stories list to an algorithmically personalized list will save it.

Snap lost a staggering $443 million this quarter as it struggles to improve its efficiency while growing its advertising base. The company took a $40 million charge on unsold Spectacles hardware, confirming reports of them selling worse than the company expected”.

Snapchat share price craters on weak revenue and user growth in Q3 2018

TechChrunch

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