Sunday, 20 May, 2018

Snap Earnings Post Higher Than Expected Revenue, User Growth

Snap shares surge after app redesign sparks user growth Oh, Snap! A snapshot of Snapchat.
Allan Lindsey | 07 February, 2018, 02:02

Shares of Snap Inc. are up sharply in extended trading following stronger-than-expected revenue and solid user growth for the company's fourth quarter. The net loss was $350 million in the fourth quarter, for a full-year loss of $3.45 billion.

Investors, who had been expecting revenue of $255 million and a loss of 33 cents per share, sent the stock soaring on the strong earnings beat.

Snap shares are up about 23% this year. It added 8.9 million daily active users in the final three months of the year, more than any other quarter of the year. Shares were trading up more than 25 percent after hours. The business had revenue of $207.90 million during the quarter, compared to the consensus estimate of $236.71 million. SunTrust Banks reaffirmed a "sell" rating and issued a $10.00 target price on shares of Snap in a research report on Thursday, October 12th. Despite launching its own TV shows as well as those in collaboration with big-name companies like NBC, ESPN and MGM Television, Snap has struggled to win over new users, and even saw a major partner like CNN end its daily Snapchat show. Those bets appear to be paying off.

"Our business really came together towards the end of a year ago", said Evan Spiegel, Snap's CEO, in a statement.

USA should not run on anti-peace pathway, says China
China will resolutely stick to peaceful development and pursue a national defence policy that is defencive in nature, Ren said. Trump ordered a year ago, the revision, led by the Pentagon of the USA nuclear arsenal and the policies that govern it.

The company has also suffered from unfavorable comparisons to Facebook Inc.'s Instagram, which is rapidly expanding and aggressively copying Snapchat's most-popular features. "Compared to the old design, core metrics around content consumption and time spent in the redesigned application are disproportionately higher for users over the age of 35, which bodes well for increasing engagement among older users as we continue to grow our business".

If you want to know how a company like Snap can lose nearly $3.5 billion in a year, look no further than stock rewards to engineers.

Internet companies commonly use stock awards as a way to lure developers in a highly competitive market, where cash-rich companies like Google and Facebook can pay much higher salaries.

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