Snap Revenue Surges 72% on User Growth, Advertising Gains

07 February, 2018, 02:04 | Author: Larry Hoffman
  • NATION-NOW     Snapchat's parent finally sees a turnaround     
       Snapchat's parent finally sees a turnaround

Snapchat's parent company, easily just posted its best quarter since going public previous year, blowing past revenue and user growth estimates when the company reported its Q4 earnings on Tuesday. Snap reported a net loss of $350 million for the quarter.

Snap posted losses of $0.13 per share on $285.7 million in revenue versus expectations of a $0.16 per share loss on $252.95 million in revenue.

Analysts at Raymond James predict Snap's stock-based compensation this year will be $900 million, with the number falling to $850 million in 2019. Daily active users grew by 8.9 million during the quarter to 187 million.

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But shares began to rebounded as Tencent took a 10% stake following the company's dismal third-quarter results and after the company announced a redesign to its app.

Snap's shares soared more than 25 per cent in after-hours trading, reaching $17.61. The business had revenue of $207.90 million during the quarter, compared to analysts' expectations of $236.71 million.

For the full year, Snap's revenue rose to $825m, more than double the $404m it made last year. Those bets appear to be paying off. Still, Snap Inc shares closed up about 1.52 percent to $14.06 earlier today.

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Larger social-media rival Facebook Inc. has copied some of Snapchat's most-popular features for bigger audiences, while a dramatic redesign of the Snapchat app is rolling out slowly - and to lackluster reviews so far. For 2018 Snap is expected to generate $1.47 billion in net worldwide ad revenue, which is up 90% from 2017, but that's a 0.6% share of the overall worldwide digital ad market, says eMarketer, and pales in comparison to Google and Facebook. The Company's flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap.

"Snap benefited from some of the seasonality that's expected during the holidays as advertisers heavy up but also saw some new brands come in and test the platform", Goldman says.

Spiegel said early feedback shows the redesign makes the app easier to user, "especially for older users".

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