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Evan Spiegel, founder and CEO of Snapchat (Frederic J. Brown/Getty Images)

Snap dives after narrowly missing earnings expectations

Snap posted earnings after the bell Tuesday.

Rani Molla

Snap slightly missed expectations, posting a loss per share of $0.16 and $1.34 billion in sales in its second-quarter earnings report. FactSet’s analyst consensus had an estimated loss of $0.15 per share and revenue of $1.35 billion. Average revenue per user came in slightly lower than expectations as well, at $2.87 versus FactSet’s $2.89. Shares plummeted roughly 15% in after-hours trading.

“Our global community continued to grow in Q2, reaching 932 million Monthly Active Users as we continued to invest in AI and augmented reality,” CEO Evan Spiegel said in the earnings release. “With meaningful inventory and conversions growth this quarter, including the broader rollout of Sponsored Snaps, we’re excited about the opportunity to translate improved advertiser performance into topline acceleration.”

Last quarter, the stock took a dive after the company beat earnings expectations but didn’t provide Q2 guidance.

Investors have been watching how tariffs and the end of the de minimis exemption could indirectly affect companies that make their money on advertising. For tech giants like Google and Meta, those haven’t been a big issue.

Bulls had hoped that growth in the company’s subscription business and “direct response” ads, as well as Snap’s upcoming smart glasses, might offset other headwinds.

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Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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