Snap isn’t happy with how much money it’s making
by Jacob Kastrenakes from The Verge - All Posts on (#61NT8)
Photo by James Bareham / The Verge Snap knows it can do better. The company reported earnings results for the second quarter of 2022 this afternoon, and the numbers show a company that's continuing to grow its users and revenue - but at a much slower rate than it used to.
Our financial results for Q2 do not reflect the scale of our ambition," the company wrote in a note to investors. We are not satisfied with the results we are delivering."
The message was part of a rallying cry to investors that essentially says hang tight, we're working on it. To turn things around, Snap is promising to recalibrate" its hiring, goals, and investments. And, in a splashier move, the company said it had signed Snap co-founders Evan Spiegel and Bobby Murphy, the company's CEO and CTO, to...