Snap Shares Soar On Better-Than-Expected Q1 Results, Daily Active User Growth, Q2 Revenue Guidance
Portfolio Pulse from Erica Kollmann
Snap Inc. (NASDAQ:SNAP) shares surged after reporting Q1 earnings that exceeded expectations with earnings of 3 cents per share against an expected loss of 5 cents, and sales of $1.195 billion, surpassing estimates by 6.74%. The company also reported a 10% year-over-year increase in daily active users to 422 million and provided Q2 revenue guidance between $1.225 billion and $1.255 billion, above the analyst estimate of $1.14 billion.
April 25, 2024 | 8:42 pm
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Snap Inc. reported better-than-expected Q1 results with a significant beat on earnings and revenue forecasts, a 10% increase in daily active users, and strong Q2 revenue guidance.
Snap's Q1 performance, particularly its earnings beat, revenue growth, and positive user growth metrics, along with optimistic Q2 revenue guidance, are likely to positively impact investor sentiment and SNAP's stock price in the short term. The substantial after-hours price increase indicates immediate positive market reaction.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100