The CEO of Snap, developer of Snapchat, says the messaging platform is increasing its spending on artificial intelligence (AI) and machine learning.“There was a recognition that we’d fallen behind the curve on the machine learning side, which, to some degree, was reflected in the business performance,” Evan Spiegel said in an interview with Bloomberg News published Sunday (May 19).“We needed to improve there and bring together some of our most senior machine learning folks to just talk about what it would l ...

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After reaching an important support level, Snap Inc. (SNAP) could be a good stock pick from a technical perspective. SNAP recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.Considered an important signifier for a bullish breakout, a golden cross is a technical chart pattern that's formed when a stock's short-term moving average breaks above a longer-term moving average; the most common crossover involves the 50-day and ...

Shares of the social media stock pulled back on a convertible-debt offering.Shares of Snap (SNAP -2.22%) were pulling back after the company announced a debt offering. Investors seemed to balk at the move, which came after Snap delivered surprisingly strong first-quarter results, as it shows the social media company still hasn't reached the point where it can fund its own growth.As a result, the stock was down 2.1% as of 1:13 p.m. ET. Snap goes further into debtIn a press release this morning, Snap said tha ...

Investors cheered the company's fastest growth in two years.Shares of social media app Snap (SNAP 2.62%) were up 31.1% in April, according to data provided by S&P Global Market Intelligence. It was a quiet month, with shares trading flat until April 25. But then the company reported financial results, and the stock exploded higher.Snap reported financial results for the first quarter of 2024, showing 21% year-over-year top-line growth, which was its best growth in two years. Analysts widely praised the Q1 r ...

Recently, I predicted that April 25 would be a make-or-break day for Snap (NYSE:SNAP), the owner of the photo-messaging app Snapchat. It was a “make” day and not a “break” day. All signs point to rapid growth for Snap, and the only people who should be worried now are the Snap stock short-sellers.The sentiment on Snap was bearish in February. The company announced layoff plans for 10% of its global workforce and expected a deep adjusted EBITDA loss in 2024’s first quarter.SNAP stock snapped like a broken tr ...

Headwinds are turning into tailwinds for this social media mainstay.Snap Inc. (SNAP 3.87%) is the parent company of social media platform Snapchat, and its stock is trading 82% below its all-time high, which was set in 2021. A couple of things happened. Valuations in the technology sector cooled off when the Nasdaq-100 plunged 33% in 2022, and soaring interest rates triggered a slowdown in the advertising industry.However, Snap stock soared almost 28% last Friday following the release of an overwhelmingly p ...

champpixs One of the lesser-watched social media companies can be found in SNAP Inc. (NYSE:SNAP) but recent earnings surprises could put this stock back on the radar for technology investors in coming sessions. Most of the recent optimism has been fueled by better-than-expected earnings figures for the first-quarter period, and the initial market reaction to this information has helped to propel share prices higher by nearly 30% (marking the best single-session gains since 2022). For the period, Snap report ...

Have you assessed how the international operations of Snap (SNAP) performed in the quarter ended March 2024? For this company behind Snapchat, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects.In today's increasingly interconnected global economy, a company's ability to tap into international markets can be a pivotal factor in shaping its overall financial health and growth trajectory. For investors ...

Key PointsSocial media operator Snap recorded a surprise profit of 3 cents in Q1 2024, crushing consensus estimates for a loss of 3 cents by 29 cents.Daily active users (DAUs) rose 10% YoY to 422 million, and Snapchat+ premium membership tripled to more than 9 million subscribers.Snap raised its Q2 2024 revenue guidance to $1.225 billion to $1.255 billion, above $1.22 consensus estimates, and DAU is expected to reach 431 million.5 stocks we like better than SnapSnap Inc. NYSE: SNAP investors are rejoicing a ...