Snap investors are eager to find out if Snapchat’s controversial redesigns have helped or hindered business.
The company is expected to report its latest quarterly earnings Tuesday after the bell.
- Estimated loss per share: 17 cents, adjusted, according to Thomson Reuters consensus estimate
- Estimated revenue: $244.5 million, according to a Thomson Reuters consensus estimate
- Estimated daily active users: 194.2 million expected by a FactSet estimate
Snapchat’s redesign has not been widely embraced by its users, with some starting a Change.org petition to revert back to the old version. Snapchat power user Kylie Jenner tweeted in February she didn’t open Snapchat anymore due to the tweaks, causing the stock to tumble 8 percent on the news. (She has since returned to the platform.)
In late April, the company said it would test redesigning its redesign. One of the updates would include moving friend stories on the same tab as publisher and celebrity content, with clear delineations. Shares plunged as much as 9.5 percent a day after the after-hours announcement.
However the advertising and business community seem to be embracing some of the changes Snapchat has made. In mid-April, Snapchat allowed users to buy products or watch longer videos without leaving the app using its lenses, or photo filters.
This is a breaking news story. Please check back for updates.
Disclosure: CNBC parent company NBCUniversal is an investor in Snap.
