Snap shares soar 23% as company beats on earnings, shows strong revenue growth
Snap shares soar 23% as company beats on earnings, shows strong revenue growth
Apr 25, 2024 by CNBC
Key Facts
- Here’s how the company did: Earnings per share: 3 cents adjusted vs. a loss of 5 cents expected by LSEG Revenue: $1.19 billion vs. $1.12 billion expected by LSEG Global daily active users: 422 million vs. 420 million expected, according to StreetAccount Average revenue per user: $2.83 vs. $2.67 expected, according to StreetAccount Revenue for Snap’s first quarter increased 21% from $989 million in the same period last year.
- In its investor letter, Snap said revenue growth was primarily driven by improvements in the company’s advertising platform, as well as demand for its direct-response advertising solutions.
- For its second quarter, Snap expects to report revenue between $1.23 billion and $1.26 billion, up from the $1.22 billion expected by analysts, according to StreetAccount.
- The company expects to report around 431 million DAUs in its second quarter, up from the 430 million expected by StreetAccount.
ORGANIZATION
MONEY
PERCENT
PERSON
PRODUCT
MISCELLANEOUS
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2021 Kwhen Inc.
Was this content valuable for you?