Snap is slipping ahead of second quarter earnings

Snap is set to report its second quarter earnings after the bell Thursday, and investors seem slightly worried.

Snap is trading 0.88% lower on Thursday, as investors look ahead to earnings. In the week before earnings, Snap had started making gains and rose 2.43% to its current level.

Wall Street is expecting the company to report a loss of $US0.33 per share on revenue of $US185.78 million, according to data from Bloomberg.

Snap has been in an almost constant slide since its initial public offering and is down 20.6% from its $US17 IPO price.

The company briefly turned its downward slide around after reports of a standing $US30 billion acquisition offer from Google. Business Insider’s Alex Heath said a strong relationship between the company’s executives was a contributing factor to the offer, but Snap’s CEO Evan Spiegel has thus far declined.

Snap is currently trading at $US13.47.

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