Why Snap, Pinterest Shares Are Rising Thursday
Portfolio Pulse from Adam Eckert
Shares of Snap Inc (SNAP) and Pinterest Inc (PINS) rose in Thursday's after-hours trading following Meta Platforms' (META) strong Q4 results. Meta reported revenues of $40.11 billion and EPS of $5.33, beating analyst estimates. The company saw an 8% year-over-year increase in family daily actives and a 6% increase in Facebook daily actives. Ad impressions rose 2% year-over-year for Q4, with a full-year increase of 28% as the average price per ad decreased by 9%. Meta announced its first quarterly dividend of 50 cents per share and provided Q1 revenue guidance of $34.5 billion to $37 billion. Snap shares increased by 5.61% to $16.76, and Pinterest shares went up by approximately 4.04% to $39.10 after the announcement.
February 01, 2024 | 10:33 pm
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POSITIVE IMPACT
Meta Platforms reported strong Q4 results with revenues of $40.11 billion and EPS of $5.33, surpassing analyst estimates. The company also announced its first quarterly dividend of 50 cents per share.
Meta's strong Q4 performance and the announcement of its first dividend are likely to positively impact its stock price in the short term, reflecting investor optimism.
CONFIDENCE 95
IMPORTANCE 95
RELEVANCE 100
POSITIVE IMPACT
Pinterest Inc shares increased by approximately 4.04% to $39.10 in after-hours trading following Meta's strong Q4 earnings announcement.
Pinterest's stock price gain is a reaction to Meta's Q4 earnings beat, indicating investor confidence in the growth potential of social media platforms.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Snap Inc shares rose by 5.61% to $16.76 in after-hours trading following Meta's strong Q4 earnings report.
Snap's stock price increase is directly attributed to the positive sentiment generated by Meta's strong Q4 performance, suggesting a bullish outlook for the social media sector.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80