Q3 Results – Own Snap

Before publishing its financial results for the third quarter, the company’s stock moved forward from $344.90 to $377.24, resulting in over 9% profit. However, the worth is sharply dropped to $344.29, losing 8% because of earnings for the third quarter that significantly declined from the same period last year. While writing, the stock market is continuously plummeting.

According to the earnings, the company’s revenue for the quarter fell 3.03% to $16 billion from $16.5 billion last year. In 2021 the net earnings equaled $614 million, which also have fallen to the prior years from $1.8 billion. However, cash from operations also remained at the previous year’s level of $ 1.9 billion. The company’s stock had a trading volume of 2,286,437 shares, compared to its average volume of 1,188,860.

Business and Tech Reporter