Latest in Evan Spiegel

Snapchat parent Snap kicked off earnings season for social media and tech companies today on a sour note with solid user numbers but lower than expected revenue and a dim outlook for the fourth-quarter where sales are expected to be flat. That forecast spooked the Street with Snap down over 25% in late…

Barely a week after announcing massive layoffs and initiating a significant restructuring of the company, Snap Inc. CEO Evan Spiegel said the social media firm is committed to staying independent and resisting any takeover offers. “When I look at the long-term opportunity in our business, I really believe it’s…

Reeling from an advertising slowdown and a grim economic environment, Snapchat parent Snap Inc. is laying off about 1,600 workers, or about 20% of its workforce. The dramatic cuts follow a series of grim financial reports, which sent the company’s shares plunging in recent months. Snap stock shot up almost 9% on heavy…

UPDATED with share price, quarterly stats: Shares of Snapchat parent Snap soared 60% on fourth-quarter gains in revenue and daily active users and a chorus of relief across Wall Street that it’s not Facebook. Why? Shares of Facebook parent Meta went the opposite direction, falling 25% and shedding more than $230 billio…

Snapchat parent Snap said daily active users jumped 22% or 51 million last quarter year on year to 280 million. The company said sales rose 66% to nearly $770 million and net losses narrowed to $286 million from $305 million. "We began 2021 by achieving our highest year-over-year revenue and daily active user growth…

Snap founder and CEO Evan Spiegel said Tuesday that it's been really “interesting to watch the U.S. government grapple with the success of a consumer tech company that is headquartered in China," referring to social media powerhouse TikTok, owned by Chinese giant ByteDance. "It's a free market question," Spiegel said…

Snapchat said on Wednesday that it would stop promoting Donald Trump’s account on its Discover platform over concerns that his messages have amplified racial violence. "We are not currently promoting the president's content on Snapchat's Discover platform,” the company said in a statement. “We will not amplify voices…

Snapchat parent Snap Inc. has continued to gain momentum after stumbling badly in 2018, posting third-quarter results that exceeded Wall Street estimates for revenue and new subscribers. Total revenue of $446 million in the period rose 50% from the same quarter a year ago and beat analysts’ consensus forecast by more…

Snapchat parent Snap Inc. is on the upswing as it prepares to report its quarterly financial results on July 23, with a resurgent stock at its highest level in nearly 18 months and a turbulent 2018 now in the rear-view mirror. The positive momentum led Morgan Stanley analyst Brian Nowak to revise upward his…

Long-battered shares of Snapchat parent Snap Inc. soared nearly 22% today on heavy trading volume to close at $8.56, their highest level since last September. The company’s fourth-quarter earnings report after the close of trading yesterday fueled today’s frenzy, which occurred on a day when stock markets were largely…

Snap Inc., which has faced pressure after missteps with its SnapChat social network and high turnover in the executive suite, reported increased revenue but flat user numbers in its fiscal fourth quarter. Shares in the tech company soared 20% after hours Tuesday after closing at $7.04, their highest level since…

UPDATED with closing stock price. Snapchat parent Snap Inc. has revealed that regulators at the Department of Justice and the Securities and Exchange Commission are investigating whether it misled investors ahead of its 2017 IPO. The news sent the company’s battered shares, which have already fallen more than 50% in…