Snap CEO's Road Map to Profitability Does Little to Stop Slide

Evan Spiegel, co-founder and chief executive officer of Snap Inc.
Photographer: Michael Nagle/Bloomberg

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By Gregory Calderone

October 5, 2018 at 2:21 PM UTC

This article is for subscribers only.

Snap shares slipped after Cheddar released a 15-page memo written by CEO Evan Spiegel on September 26 which stated a "stretch goal" of being break-even in the fourth quarter and profitable in 2019. The stock hit an all-time low yesterday after dropping 5.2 percent.

Wall Street analysts disagree with the optimistic view. Consensus fourth quarter adjusted earnings per share is estimated at a loss of 10 cents and 2019 full-year estimated at a loss of 45 cents.