Snap Inc.'s Share Price Soars After Revenue Beats Expectations
07 February, 2018, 01:50 | Author: Sheri Evans
It looks like the cloud of doom-and-gloom hanging over Snapchat parent company Snap Inc. may be in the early stages of receding, as the company today posted its first ever better-than-expected quarterly earnings since going public in spring of previous year. On average, analysts estimated $252.95 million in revenue and a loss of 16 cents a share. The company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of ($0.31) by $0.17. Barclays raised shares of Snap from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $11.00 to $18.00 in a research report on Tuesday, December 5th.
Snap's first year as a public company hasn't been very good. That would also put Snap's yearly sales at $793 million, nearly double the $404 million it brought in in 2016.
Analysts had expected losses of $409 million, and revenue of around $253 million. But Spiegel was issued a stock award that vested immediately at the time of the IPO, representing 3 percent of all outstanding shares and delivered in "equal quarterly installments over three years beginning in the third full calendar quarter following this offering".
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The announcement late a year ago that Snap meant to completely rebuild the Snapchat app has been welcomed by frustrated users.
The app now has 187 million users, which still puts it far behind rivals like Instagram Stories, a Snapchat clone that now has more than 300 million daily users.
Snapchat has sought to distinguish itself from Facebook with a design that "separates social from media", according to Spiegel, who said this helps avoid "many of the problems that arise when friends are commingled with professional content creators". (One year earlier, it had added 10 million in the same quarter.) Wall Street expects Snapchat added six million new users in Q4.
Advertising revenue rose 74 percent to $281 million, as companies advertised more in the key holiday quarter.
As Cristiano Ronaldo celebrates his 33rd birthday, we look at the seven most iconic moments of his magnanimous career. Loren Moron had a dream debut for Betis as he scored both goals which gave his side a 2-1 win at home to Villarreal.
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Swedish prosecutors had already dropped their investigation over sexual assault and rape allegations, which he denies. The 46-year-old sought refuge in London's Ecuadorian Embassy in 2012 to escape extradition to Sweden.
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The storm will move up over New England on Thursday with a high pressure system moving rapidly behind the departing low pressure. In the Buffalo metro area, more than 6 inches is possible between about 7 a.m. and 7 p.m., forecasters said.
If you want to cut your kids' screen time, you can put restrictions on how long they can play or limit play time to certain hours. The system will send a notification to the child when playtime is coming to an end, giving them enough time to save progress.
On January 9, Shevach was gunned down by Palestinian terrorists while on his way home to the northern West Bank outpost. Scores of Palestinians threw stones at the Israeli forces as they moved into Burqin, Reuters reported.
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New York Mets ink 3B Todd Frazier to 2-year deal
Free agent third baseman and Yankees fan favorite Todd Frazier will be taking his talents, and his thumbs, to Flushing. But he has stated he would be more comfortable at second base, which makes the signing of Frazier a sound choice.
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The attack ended with the terrorists escaping into the narrow lanes and bylanes of downtown Srinagar , a police official said. But while entering the hospital premises, two to three militants waiting for them opened fire injuring two cops.
Sensex ends 309 points lower; Nifty settles at 10667-mark
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A warning for party-goers this Super Bowl weekend
This simple app only has three options: call a taxi, call a friend, and identify your location for pickup. In 2016, the NHTSA recorded 10,497 fatalities in traffic crashes involving drunk drivers nationwide.
Dow Jones industrials sink 500 points
Meanwhile wages rose at the fastest pace in more than eight years, suggesting employers are competing more fiercely for workers. The U.S. central bank has forecast three rate increases this year after raising borrowing costs three times in 2017.