CEO Evan Spiegel set the goal of 2019 profitability in an internal September memo. He also said that Snapchat had 'rushed redesign.'
Snap fell as much as 2% in early Tuesday trading after announcing plans to raise $1 billion in debt. An internal memo released in October revealed CEO Evan Spiegel's plan to reach full-year profitability in 2019. Snap's second-quarter earnings report announced better-than-expected user figures and revenue, as well as lower costs than Wall Street anticipated. Shares still sit about 5% lower than the company's $17 IPO price. Watch Snap trade live here.
Snap fell as much as 2% in early Tuesday trading after announcing plans to raise $1 billion in debt. An internal memo released in October revealed CEO Evan Spiegel's plan to reach full-year profitability in 2019. Snap's second-quarter earnings report announced better-than-expected user figures and revenue, as well as lower costs than Wall Street anticipated. Shares still sit about 5% lower than the company's $17 IPO price. Watch Snap trade live here.
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