Snap Inc. Beats Wall Street Estimates for Quarter 1

After Wall Street has estimated for Snap Inc.’s first quarter a loss of 12-cents per share, the company has reported a 39% increase in revenue ($320 million) of the prior-year period. The company’s loss per share was narrowed to 10 cents. How was that possible? By having an active user on the app, daily. Has the company improved its fortunes comparing to the previous years? Let’s see what the data are revealing.

The data analyzed show us that by the end of March 31, the Snapchat app has reached 190 million users. These figures show us that the metric was higher than the 186 million from the fourth quarter but a little bit lower than the 191 million users from last year. If we look at the data from the analyst, they have predicted 187.2 million users.

Besides this, if we analyze the company’s stocks from December last year that was at $4.82, we will see an increase with 4%, and now is close to $11.99. All this news has increased the numbers with 10% in after-hours trading. Thanks to the fourth-quarter earnings reports from February, the company’s revenue has increased. And that means excellent news if we think that between 2017 and 2018, the company has gone through a dark period.

Finally, Snap Inc. had gone to a series of destabilization in 2017 because of top-level executive departures, and CFO Tim Stone’s abrupt resign that had left the company in February. And that was not the only problem in that period, the fact that they have struggled to perfect the Android version of the app after the unpopular redesign has caused them some issues. Unfortunately, the tech stock prices are below regarding the teens and those under twenty years of age, but in 2019 it had double from the level it was in March 2017.

Dennis Clarke

About the Author: Dennis Clarke

Dennis Clarke is still early into his career as tech reporter but has already had his work published in many major publications including JoyStiq and Android Authority.   In regards to academics, Dennis earned a degree in business from Fordham University. Dennis has passion for emerging technology and covers upcoming products and breakthroughs in science and tech.

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