Market watchers set the Snap earnings bar low, but the social media company was still not able to meet expectations.
Analysts expected revenues of $238 million, but the company brought in $20.8 million. And daily active users grew to just 178 million, compared to estimates for 182 million.
While Snap did report a slightly smaller loss than expected, it still bled about $440 million during the quarter. It also said in a statement that it has a surplus of Spectacles, its connected eyewear product, due to lower-than-expected demand. Still, the company isn't giving up on the product yet, saying it still expects to sell the excess inventory.
The company added in a press release that it is looking to redesign its app to make it more user-friendly, acknowledging that the redesign may disrupt business in the short term. But Snap hopes the reformatting will create long-term benefits.
Heinz is combining two popular flavors for its new condiment, pickle ketchup.
Federal health officials are expanding an investigation into potentially lead-tainted pouches of apple cinnamon fruit puree marketed for children amid reports of more illnesses and additional product recalls.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Maks Chmerkovskiy and wife Peta Murgatroyd, of "Dancing With the Stars" fame, are branching out into skincare.
Donald Trump began testifying Monday morning in his civil fraud trial, producing the spectacle of a former president and the leading Republican presidential candidate defending himself against allegations that he dramatically inflated his net worth.
The trial between Google and the maker of the game Fortnite will begin Monday as a San Francisco jury will hear Epic Games' case claiming the Google Play Store takes an unfair commission on purchases made through apps.
One of the most self-made and success stories in the country, Emma Grede, has worked along with the Kardashian Jenner family on many of their best-known brands. Grede, CEO and co-founder of Good American, gave back to the next generation of business leaders as a featured speaker at the Chase for Business Make Your Move summit last week. She spoke with Cheddar News about her career, her company's fashion brand, working with the famous Kardashian-Jennifer family and balancing her own family life.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Elon Musk's company XaI has announced a new chatbot called Grok.
SAG-AFTRA said over the weekend that it received the studios' last best and final offer following a meeting on Saturday, with the union saying it's reviewing it and considering a response "within the context of the critical issues addressed in our proposals."
