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Snap Inc (NYSE:SNAP), the company which owns Snapchat, surged close to 25% in pre-market trading after the group saw both its revenues and profits beat guidance in the first quarter. Revenues at the social media company lifted by 21% to US$1.19 billion during the three months, improving on Wall Street guidance of US$1.12 billion.
Shares in Snap soared nearly 30% in thin volume in Frankfurt on Friday after the owner of the photo messaging app beat Wall Street expectations for quarterly revenue and user growth.
Although the revenue and EPS for Snap (SNAP) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Snapchat parent company Snap believes that augmented reality (AR) will be “one of the most meaningful advancements in computing that the world has ever seen.” Evan Spiegel, CEO of Snap, said this Thursday (April 25) during the company's quarterly earnings call.
Big gains in the after-market for Snap, Alphabet and Microsoft may keep the trading week in the green.
Snap (SNAP) reports earnings this afternoon. Diane King Hall discusses what to expect from these earnings.
Snap's share surged 21% in after-hours trading as app's users increased by 422 million, bringing in $1.2bn in revenue
As part of its Q1 2024 earning release, Snap revealed that total watch time on its TikTok competitor, Spotlight, increased more than 125% year-over-year. Snapchat launched the TikTok-like feed in late 2020 as a way to compete with the rising popularity of TikTok.
Shares of Snapchat parent Snap popped 26% in late trading after the social media network said revenue jumped more than expected last quarter to $1.95 billion, up 21% from 2023. The number, and the outlook for the current quarter were nicely above Wall Street forecasts, as were daily active users, which hit 422 million.
CNBC's Julia Boorstin, Nicole Webb, Wealth Enhancement Group SVP, and Kevin Mahn, Hennion & Walsh Asset Management president & CIO, joins 'Closing Bell Overtime' to talk Snap, Alphabet, Intel and Microsoft earnings.