SNAP & PINS Earnings Face Uphill Growth Battle

Snap Inc. (SNAP) earnings were released yesterday, April 27th. George Tsilis joins Alex Coffey and Jenny Horne to discuss SNAP and Pinterest (PINS). He talks about how SNAP's 1Q daily active users totaled 383M. SNAP's adjusted EPS came in at $0.01 versus an estimated -$0.01 and revenue came in at $988.61M versus an estimated $1.01B. He also goes over PINS earnings which also released earnings yesterdays. Its adjusted EPS came in at $0.08 versus an estimated $0.00 and revenue came in at $603.00M versus an estimated $593.46M. He notes that PINS is a growth centric business that is not giving visibility on expense reduction. PINS guides for 2Q revenue roughly in line with 1Q23 & 4Q22. Tune in to find out more about the stock market today.