Re:ByteDance investors value TikTok at $50B in takeover bid
by adventured on Wednesday July 29, 2020 @10:51AM
(#23987278)
> Snapchat is doing great and making money.
Snap is losing a lot of money.
Their operating loss was an astounding $596 million for the first two quarters of 2020. Barely an improvement over last year's $620m operating loss for the same period.
Somehow they managed to generate a $596m operating loss on $916m in sales. Truly remarkable performance. It's not easy to so poorly run a business that should be printing profits. Facebook generated nearly a billion dollars in operating profit at that sales scale. The least Snap could do is break even.
Snap is losing a lot of money.
Their operating loss was an astounding $596 million for the first two quarters of 2020. Barely an improvement over last year's $620m operating loss for the same period.
Somehow they managed to generate a $596m operating loss on $916m in sales. Truly remarkable performance. It's not easy to so poorly run a business that should be printing profits. Facebook generated nearly a billion dollars in operating profit at that sales scale. The least Snap could do is break even.