Tech Capital

Snap Inc cracks and goes pop - AFTER HOURS

Also featured: ; Nvidia Corporation, Nordstrom Inc, Camping World Holdngs Inc
Snapchat
Snap attracted 7mln new daily users in the second quarter, which was well short of the 10mln the market had been expecting.

Snap Inc (NYSE:SNAP), the owner of Snapchat, hit a new low in after-hours trading after traders took fright in its user growth rate.

Snap attracted 7mln new daily users in the second quarter, which was well short of the 10mln the market had been expecting.

The stock only floated in March of this year and being a relatively young technology company it is, of course, losing pots of money, but an increased loss of US$443mln versus a loss of US$116mln a year earlier was a concern for the stock's diminishing band of fans.

The shares were down 11.6% at US$12.18 in screen-based trading.

Fashion retailer Nordstrom Inc (NYSE:JWN) does make money, but not as much of it as it used to.

The shares dipped 1.4% to US$44.26 in after-hours trading after initially reacting positively to an uptick in like-for-like (LFL) sales of 1.7% in the latest quarter; the market had expected a 0.5% decline.

The retailer lifted sales guidance for the year, projecting a 4% growth in the top line, having previously gone with a range of +3% to +4%.

Earnings per share (EPS) are tipped to fall within the range of US$2.85 to US$3, which represents an increase on previous guidance of EPS of at least US$2.75.

Camping World Holdings Inc (NYSE:CWH) sounds like a company that should be arranging excursions to see Broadway musicals, but is in fact a supplier of recreational vehicles and camping gear.

The sun appears to be shining on the company as it reported better-than-expected earnings.

Net income in the second quarter rose 26.3% from a year earlier to US$105.3mln. Revenue rose 20.1% to US$1.3bn.

Computer graphics chip giant Nvidia Corporation (NASDAQ:NVDA), which is becoming a big player in the driverless car technology market, found the market hard to please.

The shares fell 6.9% to US$153.34 in post-close trading despite second quarter profits more than doubling to US$638mln from US$313mln the year before.

Revenue rose 56% to a quarterly record of US$2.23bn from US$1.43bn the previous year.

Jensen Huang, founder and chief executive officer of Nvidia, bragged that “"Datacenter revenue increased more than two and a half times,” but this was less than the market had expected, which may account for the share price fall.


 

 

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