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A quarter of the entry was cut in one day: Snapshot's brutal crash - Walla! Of money

2021-10-22T23:41:04.125Z

Snap missed third-quarter forecasts and collapsed more than 26 percent in trading. The company actually blames Apple: "Changing the policy does not allow advertisers to follow the campaigns." A sharp decline in the technology sector



  • Of money

A quarter of the entry was cut in one day: Snapshot's brutal crash

Snap missed third-quarter forecasts and collapsed more than 26 percent in trading.

The company actually blames Apple: "Changing the policy does not allow advertisers to follow the campaigns."

A sharp decline in the technology sector

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Of money

Saturday, 23 October 2021, 02:10 Updated: 02:32

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It was not Snape's week.

The company, operator of social network Snapshot, lost 26.59 percent in Friday trading.

The reason: a particularly bad quarterly report.

Snap's revenue was $ 1.07 billion compared to expectations of $ 1.1 billion, and the top line was a loss of $ 72 million.

The profit forecast for the fourth quarter has been cut to 135 to 175 million - in the region of half of expectations to $ 300 million.

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Is it all Apple's fault?

Snapshot (Photo: ShutterStock)

Snap explains that the omission of forecasts is due to Apple changing its privacy policy, which prevents advertisers from tracking their campaigns.

The policy went into effect in June, when Apple stopped allowing advertisers to track its devices without its consent.

"It was definitely frustrating for us," admitted founder and CEO Evan Spiegel, "We are working on a solution to the issue."



Jump the snap aroused concern the area of technology stocks, which ruled on Friday red. Facebook declined by -5.05 percent, twitter At 4.83 percent, Google at 2.91 percent and Amazon at 2.90 percent.

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Source: walla

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