Wait for the price to break the level of 30.95
Find it at the levels
32.53
33.11
34.78
36.68
In the event that the price breaks the pattern shown below, I can take profits up to the level of 21.51
Snap kicks off social media earnings szn on a cautionary note, leaving investors looking for a filter to cover up a downbeat outlook.
Shares snapped up 6% in extended trading on Thursday, despite missing on both ends in a “challenging quarter”, reporting a LPS of $0.02 (vs the expected $0.01 in EPS) on revenues that grew 38% to hit $1.06bn. Snap’s daily active users (DAU) jumped 18% YoY to beat estimates at 332m, as rivals like Twitter and Facebook report declining users.
How’s its advertising biz holding up? Social media platforms saw declines in ad revenue thanks to Apple’s new privacy rules, but Snap created a new tool that’s now responsible for 90% of its direct ad revenue. But, now it’ll have to contend with things like war and inflation, leading customers to lower their advertising budgets.
Will Q2 end its streak though? Snap expects the current quarter to see revenue growth of up to 25% at the high end, missing expectations for 28%, though it beat estimates by forecasting DAUs of 344m. Analysts are still bullish despite growing macroeconomic headwinds, but let’s see how other social media platforms fare next week.
Source Trading View