5 Stocks in Focus After Releasing Their Earnings Reports

In this article, we discuss the 5 stocks in focus after releasing their earnings reports. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks in Focus After Releasing Their Earnings Reports.

5. Snap Inc. (NYSE:SNAP)

Number of Hedge Fund Holders: 64

Shares of Snap Inc. (NYSE:SNAP) took a deep dive in the pre-market trading session on Friday, 22 October 2021, losing nearly 20 percent of their value after posting lower-than-expected revenue for the third quarter. The social media company’s revenue jumped 57 percent on a year-over-year basis to $1.07 billion, but missed the consensus forecast of $1.1 billion.

On the bright side, Snap Inc. (NYSE:SNAP) reported a narrower-than-expected loss for the quarter. The company lost 5 cents per share versus a loss of 10 cents per share estimated by analysts. It was also narrower than the loss of 14 cents per share in the year-ago quarter.

Commenting on the quarter, CEO Evan Spiegel said:

“We’re now operating at the scale necessary to navigate significant headwinds, including changes to the iOS platform that impact the way advertising is targeted, measured, and optimized, as well as global supply chain issues and labor shortages impacting our partners.”

Snap Inc. (NYSE:SNAP) also issued its revenue outlook for the fourth quarter. It expects revenue in the range of $1.165 billion to $1.205 billion, well below the consensus forecast of $1.36 billion.