Snap is slipping ahead of second quarter earnings

Snap IPO

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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