The guidance was a loss between $100 and $75 million for the quarter, so even if they slightly beat that, it’s not doing much to stop the bleeding.
Re:Snap CFO Tim Stone Is Resigning
by GenerocUsername on Tuesday January 15, 2019 @07:42PM
(#18917248)
Jesus. A picture sharing app bleeding 100 million a quarter sure sounds like a industry-wide valuation issue.
Glad I bailed on some SNAP interviews a few months back.
They've got a 5 year, $2 billion contract with Google for cloud services. There's $100 million / quarter right there. Plus they have staff.
Yes, servers cost money, but locking in that cost doesn't make sense to me, because it makes it very hard to reduce costs, even if you invest developers in efficiency.
> Snap is currently finalizing its Q4 2018 results and says it expects to report revenue and adjusted EBITDA results “that are slightly favorable to the top end of our previously reported quarterly guidance ranges for each.”