Snap: Raw Numbers Are Still Bad

Are these numbers good? For Q2, Snap ($SNAP) reported numbers that beat analyst estimates, but the social messaging company still had a free cash flow loss of $103 million. 

With the after-hours rally above $16, the stock now has a market cap of $25 billion and trades at about 12x 2020 revenues. Investors are getting too aggressive on Snap with the company still burning massive amounts of cash for a company with less than $400 million in quarterly revenue. 
More research: Snap: Irrational Respect
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