Snap Free-Cash-Flow Focus Meets Market Skepticism on Growth
Snap trades about 57% below its two-year high while generating $0.71 billion in free cash flow over the past 12 months, a 7.7% free-cash-flow yield. The latest quarter’s revenue rose 19% year over year, helped by recovering advertising and fast subscription growth. Management says free cash flow per share will be the primary objective, even as Q3 comparisons get harder.