Snap rises on report of CEO’s profitability goal for 2019


** Snapchat-owner’s shares up ~4 pct at $8.10 in premarket, showing signs of recovery after touching their all-time low on Thursday

FILE PHOTO: A logo of Snap is displayed on a monitor above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., December 5, 2017. REUTERS/Lucas Jackson

** CEO Evan Spiegel aims to achieve full-year profitability in 2019 by betting on older users, revamped marketing, online news service Cheddar reports, citing a memo

** Co says it would also better serve emerging markets users with its forthcoming redesign of its Android app – memo

** On Thursday, analysts raised concerns over user declines and competitive threats from Instagram

** Daily Snapchat users fell for the first time in Q2 ended August

** As of Thursday’s close, SNAP shares have nearly halved in value and have traded under their $17 debut price since March

Reporting by Shreyashi Sanyal in Bengaluru

Products You May Like

Articles You May Like

Brexit talks between UK government and Labour to resume on Monday
Britain’s Prince Harry, queen attend Windsor Castle royal wedding
Canada vows ‘full steam ahead’ on ratifying trade pact after U.S. lifts metals tariffs
Missouri Senate passes bill to ban abortions after eight weeks
Golf: Tiger struggles early at PGA Championship, Koepka shares lead

Leave a Reply

Your email address will not be published. Required fields are marked *