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Snap Shares Plummet After Weak Earnings, User Growth Misses Estimates
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Snap Inc. (SNAP - Free Report) just released its latest quarterly financial results, posting a loss per share of 17 cents and revenues of $230.7 million.
Currently, SNAP is a Zacks Rank #3 (Hold), but that could change based on today’s results. Estimates have increased by two cents for the current year over the last two months, and the Zacks Consensus sits at a loss of 53 cents per share.
Shares of the social media company have fallen over 42% in the last year and closed the trading day down over 1.4%. The stock is down in the double digits in after-hours trading shortly after the earnings report was released.
Snap:
Matched earnings estimates. The company reported a loss per share of 17 cents, coming in-line with the Zacks Consensus Estimate of a loss of 17 cents per share.
Missed revenue estimates. The company saw revenues of $230.7 million, lagging behind our consensus estimate of $246.1 million but growing 54% year-over-year thanks to growth in Snap Ads. However, revenues declined 19% on a sequential basis due to “seasonality and [its] redesign.”
Additionally, average revenue per user (ARPU) was $1.21, up 34% from the prior-year quarter but down 21% sequentially.
Daily active users (DAUs) grew to 191 million in Q1, an increase of 15% year-over-year and 2% quarter-over-quarter.
Here’s a graph that looks at Snap’s recent earnings performance:
Snap provides technology and social media services. Its principal product is Snapchat, a camera smartphone application that helps people to communicate through short videos and images. Snap is headquartered in Venice, California.
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Snap Shares Plummet After Weak Earnings, User Growth Misses Estimates
Snap Inc. (SNAP - Free Report) just released its latest quarterly financial results, posting a loss per share of 17 cents and revenues of $230.7 million.
Currently, SNAP is a Zacks Rank #3 (Hold), but that could change based on today’s results. Estimates have increased by two cents for the current year over the last two months, and the Zacks Consensus sits at a loss of 53 cents per share.
Shares of the social media company have fallen over 42% in the last year and closed the trading day down over 1.4%. The stock is down in the double digits in after-hours trading shortly after the earnings report was released.
Snap:
Matched earnings estimates. The company reported a loss per share of 17 cents, coming in-line with the Zacks Consensus Estimate of a loss of 17 cents per share.
Missed revenue estimates. The company saw revenues of $230.7 million, lagging behind our consensus estimate of $246.1 million but growing 54% year-over-year thanks to growth in Snap Ads. However, revenues declined 19% on a sequential basis due to “seasonality and [its] redesign.”
Additionally, average revenue per user (ARPU) was $1.21, up 34% from the prior-year quarter but down 21% sequentially.
Daily active users (DAUs) grew to 191 million in Q1, an increase of 15% year-over-year and 2% quarter-over-quarter.
Here’s a graph that looks at Snap’s recent earnings performance:
Snap Inc. Price, Consensus and EPS Surprise
Snap Inc. Price, Consensus and EPS Surprise | Snap Inc. Quote
Snap provides technology and social media services. Its principal product is Snapchat, a camera smartphone application that helps people to communicate through short videos and images. Snap is headquartered in Venice, California.
Wall Street's Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius. Click for details >>