Snap is set to report its second quarter earnings after the bell Thursday, and investors seem slightly worried.
Snap is trading 0.88% lower on Thursday, as investors look ahead to earnings. In the week before earnings, Snap had started making gains and rose 2.43% to its current level.
Wall Street is expecting the company to report a loss of $0.33 per share on revenue of $185.78 million, according to data from Bloomberg.
Snap has been in an almost constant slide since its initial public offering and is down 20.6% from its $17 IPO price.
The company briefly turned its downward slide around after reports of a standing $30 billion acquisition offer from Google. Business Insider’s Alex Heath said a strong relationship between the company’s executives was a contributing factor to the offer, but Snap’s CEO Evan Spiegel has thus far declined.
Snap is currently trading at $13.47.
- Markets Insider