Snap Inc. (NASDAQ: SNAP) stock declined by 0.71% at last close while the SNAP stock price plunged by 21.45% in the after-hours trading as well. Snap Inc. is a camera manufacturer. They think that redesigning the camera is the best approach for them to improve people’s lives and communication. They let individuals express themselves, live in the present, know about the world, and have fun collectively, which contributes to human growth.
SNAP stock’ Financial Highlights
Following financial outcomes for the third quarter of 2021 have been reported by SNAP.
- SNAP generated a revenue of $1067 million in the third quarter of 2021, which is an increase of 57% relative to the prior year.
- In Q3 2021, the net loss increased by 64% to $72 million, relative to the third quarter of 2020.
- In Q3 2021, adjusted EBITDA increased by 209% to $174 million, compared to the previous year.
- For Q3 2021, operating cash flow was $72 million this is up from $55 million in the previous year.
- In Q3 2021, Free Cash Flow was $52 million, relative to $70 million in the previous year.
Evan Spiegel, CEO commented,
This quarter, Snap marked its tenth anniversary, and they’re enthusiastic about the long-term prospect and potential for their company. They’ve scaled up to the point where they can endure big headwinds. Changes to the iOS platform that affect how advertising is targeted, monitored, and optimized, as well as global supply chain difficulties and labor shortages that affect its partners, are all factors to consider. They’ll keep focusing on providing excellent results for their commercial partners while also innovating to improve their platform’s potential and better serve their community.
Future Expectations
- For the fourth quarter of 2021, the company expects revenue between $1,165 million and $1205 million.
- The company anticipates its adjusted EBTIDA to be between $135 million and $175 million.
