SAN FRANCISCO (AP) — Snapchat is joining the online-games bandwagon with a new service that lets people play together on its mobile platform. The company says it wants to make it easier for...
Snap: 4Q Earnings Snapshot
SANTA MONICA, Calif. (AP) _ Snap Inc. (SNAP) on Tuesday reported a loss of $191.7 million in its fourth quarter.
On a per-share basis, the Santa Monica, California-based company said it had a loss of 14 cents. Losses, adjusted for one-time gains and costs, were 4 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
Report: Snap fires 2 execs after alleged sexual misconduct
The Wall Street Journal is reporting that Snap recently fired two executives after one allegedly had an inappropriate relationship with a contract worker.
Snap to lose chief financial officer, its 2nd in a year
NEW YORK (AP) — The company behind Snapchat is losing its second financial chief in less than a year as the social media service confronts a declining user base and stiff competition from bigger rivals.
Snap Inc. said Chief Financial Officer Tim Stone is leaving to pursue unspecified opportunities. He had joined Snap just eight months ago after two decades at Amazon.
Canada Goose, Tahoe rise; Macy’s, Blue Apron fall
NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday:
PG&E Corp., down $7.13 to $25.59
People who lost their homes in California's deadliest and most destructive wildfire sued the utility for negligence and blamed it for the fire.
Tahoe Resources Inc., up $1.07 to $3.27
The company is being acquired by Pan American Silver Corp. in a stock-and-cash deal valued at more than $1 billion.
Snap: 3Q Earnings Snapshot
VENICE, Calif. (AP) _ Snap Inc. (SNAP) on Thursday reported a loss of $325.1 million in its third quarter.
On a per-share basis, the Venice, California-based company said it had a loss of 25 cents. Losses, adjusted for stock option expense and non-recurring costs, were 12 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.
Snap 2Q results beat estimates but user base declines
NEW YORK (AP) — Snapchat's daily user base declined in its latest quarter for the first time. Still, its parent, Snap Inc., reported a smaller loss than Wall Street had been expecting.
Separately, billionaire Saudi Prince Alwaleed bin Talal said in a news release and on Twitter that he has acquired a 2.3 percent stake in the company for $250 million. Snap declined to comment.
Snapchat seeks to attract more users by redesigning app
NEW YORK (AP) — Snapchat is separating what friends share and what media organizations publish in an attempt to appeal to a broader range of users.
Users will now see two separate feeds. Before, the visual-messaging app was mixing posts from friends, publishers, celebrities and others, much the way Twitter, Facebook and other rivals continue to do.
Tencent buys 12 percent stake in Snap
NEW YORK (AP) — The Chinese internet company Tencent has acquired a 12 percent stake in Snap, with the social media company struggling to boost user growth.
Tencent runs the WeChat messaging app, as well as online payment platforms and games. Earlier this year, it bought a 5 percent stake in Tesla Inc.
Snap 3Q loss more than triples, stock tumbles after-hours
NEW YORK (AP) — Snapchat is getting a redesign to make it easier to use. But the new look will not make the latest earnings report from its parent company any prettier for investors.
Shares in Snap Inc. were down more than 16 percent in after-hours trading Tuesday after the company posted yet another quarter of disappointing growth.
Snap stock hits lowest level since IPO after paltry earnings
NEW YORK (AP) — Shares of Snap Inc. have fallen 14 percent after the parent company of Snapchat reported paltry earnings .
Snapchat’s not-growing pains are a boom for Instagram
NEW YORK (AP) — Facebook once failed to buy Snapchat; ever since, it's tried to copy it, mostly without success.
Until now. Facebook's Instagram Stories, a clear Snapchat clone, has more daily users than Snapchat itself — and parent company Snap Inc. should be very worried.
Snap Inc. is the most-shorted tech initial public offering of the year, with a growing number of traders betting the stock will fall.
Investors are skeptical that the company, which owns the Snapchat photo-sharing app, can grow quickly enough to justify its valuation — now at about $23 billion — given aggressive competition from Facebook, which has been copying some of Snapchat’s features.
NEW YORK (AP) — Facebook has been bent on copying Snapchat ever since the social media giant tried unsuccessfully in 2013 to buy what was then an ephemeral photo-messaging app.
Now, the company behind Snapchat is hoping to copy some of its larger rival's own practices, at least with respect to courting new users — and, with them, advertisers.
LOS ANGELES (AP) — The Venice Beach Freak Show may have held its last performance after announcing it is closing due to a leasing dispute.
The Los Angeles Times reports (http://lat.ms/2pxYo34 ) the infamous boardwalk attraction put on a six-hour performance Sunday serving as a protest, farewell and fundraiser.
Bob the Bubble Boy, a man covered with fleshy bumps, tore off his shirt and led a chant of "freak show."
The folks from the failed Google Project Glass project could learn something from Snapchat’s new $130 video sunglasses: There’s nothing wrong with starting simple, especially if “simple” is done well.
The new Spectacles from Snap Inc. are a solid pair of sunglasses that take awesome videos, work easily, have impressive battery life and storage, and even look fairly flattering.
NEWARK, N.J. (AP) — Anyone wanting to invest in the company that owns Snapchat now has an opportunity to do something that early investors were unable to do: buy shares for less than they cost on the first day of trading.
After tumbling 12 percent Monday, shares of Snap Inc. fell another 10 percent Tuesday, closing at $21.44.
Snap priced its initial public offering of 200 million shares at $17 each. The shares opened at $24 apiece Thursday and jumped 44 percent on their first trading day.