The action of the parent company of the Snapchat network has collapsed by 80% in one year.
A comment with airs of contrition. “We are not satisfied with our results. The figures for this second quarter do not reflect our ambitionadmits Evan Spiegel, CEO and co-founder of Snap. To everyone’s surprise, the company had nevertheless warned in May that it would not achieve the objectives set at the start of the year. But she did even worse.
Its turnover ($1.1 billion) grew slightly between April and June, despite an 18% growth in its daily active users, whose number reached 347 million people. And its net loss widened to 422 million dollars (+ 178% over one year).
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The reasons for this poor performance are multiple. In an uncertain and inflationary macroeconomic environment, advertisers are reducing their advertising budgets. “Brands will cut spending as consumers dosums up Ben Bajarin, CEO and principal analyst at Creative Strategies…
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