Snapchat announced disappointing results for the second quarter, and said it plans to slow hiring, because it expects weak revenue growth, and the company confirmed that it has 347 million active users, daily, versus 344.2 million expected. Snapchat shares fell more than 25% in following-hours trading on Thursday.
The company incurred 422 million dollars in losses in the second quarter, and achieved 1.11 billion dollars in revenue, compared to 1.14 billion expected, and the stock achieved a loss of two years, compared to one cent that was expected.
Snap said it was not providing guidance for the third quarter because “the outlook remains very challenging.”
She explained that revenue in this period so far is “almost flat” compared to the previous year, while analysts expected sales growth of 18% for the third quarter, according to Refinitiv.
“We are not satisfied with our results, regardless of the current headwinds,” the company said in the letter.
In May, Snap said it would not meet the second-quarter guidance it set the previous month, sending the stock down regarding 43%. At the time, Snap indicated the macroeconomic environment was deteriorating much faster than expected.
“The second quarter of 2022 was more difficult than we expected,” Snape said following the results were announced. The company said it now plans to “significantly slow the rate of hiring, as well as the growth rate of operating expenses.”
“In some high-growth sectors, companies are reassessing investment levels amid rising costs of capital, which is further reflected in campaign budgets,” Snape added.
Earlier this week, Snap first launched Snapchat for Web, a desktop version of the Snapchat mobile app that people can use to send messages and make video calls with their Snap contacts.
Donald Trump has opened the floodgates”to disorder and corruption“and must be held legally responsible for the attack on January 6, 2021, the chairman of the House Committee of Inquiry into the assault on the Capitol said Thursday.
Former Republican Presidenttried to destroy our democratic institutions“Bennie Thompson said during a primetime hearing, which wraps up a series of public presentations of his commission’s work.”He paved the way for disorder and corruption“, once more asserted the elected Democrat who, sick with Covid, intervened by video link. For him, all those responsible for the attack, including at the White House will have to “answer for their actions in court“.
“There will have to be severe consequences, otherwise I fear that our democracy will not recover.“
Follow- Gram Muhammad
Your diet affects you more than you might expect. In fact, the foods you eat have a huge impact on your body during the day. So, today we brought you 4 healthy foods that you should eat as soon as you wake up.
1- Chia seeds:
Chia seeds are extremely nutritious and a great source of fiber. One ounce contains 11 grams of fiber. Since the fibers are viscous and absorb water. Chia seeds increase the volume of food that passes through the digestive system. It can help you feel full for longer. They are also high in antioxidants and protect your cells from free radicals as well.
2- Berries:
Berries also contain antioxidants and make an excellent morning snack. What distinguishes it from other fruits is its low sugar content. The high fiber content, in addition, has been shown to reduce inflammatory markers. And prevents cholesterol in the blood from oxidation. It keeps the lining of the blood vessels healthy. You can take it alone. Or you can add it to yogurt or oatmeal. or juices.
3- Nuts:
Nuts make a great addition to breakfast. And it can help you have a better day because you have a full stomach. They have been shown to improve heart disease risk factors. It reduces insulin resistance and reduces inflammation. High magnesium content. Potassium and monounsaturated fats in the heart. You can have it as a snack in the middle of the day when you feel hungry.
4- Cheese:
Cheese is high in protein, which increases metabolism. It has also been proven to be as effective in losing weight as eggs. Full-fat cheese contains linoleic acid (CLA). which has been shown to promote weight loss. Add berries. And flax seeds to cheese and eat it in the morning.
Sports News
England Cricket Ground Named After Gavaskar; This is a proud moment for India
England’s cricket team paid tribute to Indian cricket legend Sunil Gavaskar. England’s Leicester Cricket Authority has decided to name its ground following Sunil Gavaskar.
The ground is spread over five acres. As a tribute to Gavaskar, a picture of the star has also been painted on the wall of the stadium.
‘I am delighted to have decided to name the ground in Leicester following me. “Leicester is the best city to support cricket, especially Indian cricket,” said the player.
He also informed that he will also come to the stadium to unveil the plaque of the cricket stadium named following him.
This is the first time in Europe that a cricket stadium has been named following an Indian cricketer.
There are stadiums named following Gavaskar in America and Tanzania. Sunil Gavaskar International Cricket Stadium is located in Kentucky, US and Zanzibar, Tanzania.
UK MP Keith Wass is behind the idea of naming the stadium following Gavaskar.
‘I am very excited that he has agreed to put his name on the ground. He is a living legend. Gavaskar is a player who has made Indians very happy with his game for a long time. For us, he is not just the Little Master, but the master of cricket itself,” Vaas said.
Gavaskar is the first batsman to complete 10,000 runs in Tests. Gavaskar is also the second highest run-scorer once morest England.
Gavaskar played 125 Test matches for India and scored 10,122 runs at an average of 51.12. Gavaskar’s highest score is 236* with 34 centuries and 45 fifties.
The player scored 3,092 runs at an average of 35.13 from 108 ODIs. He has one century and 27 fifties. Apart from this, he has scored 25,834 runs from 348 first-class matches.
Content highlight: Cricket ground in England to be named following Sunil Gavaskar