The company benefited from increased user adoption and higher ad rates.For well over a year, investors could count on shares of Snap (SNAP 27.76%) dropping after the company reported earnings. But it snapped that streak today after it reported financial results for the first quarter of 2024, and as of 12:30 p.m. ET on Friday, the stock was up a stunning 29%.Snap finally benefiting from an ad-market recoveryGoing into the quarter, Snap had guided for daily active users (DAUs) of 420 million and revenue of $1 ...

While Big Tech earnings are the talk of the town today, social media company Snap Inc (NYSE:SNAP) stole the show, posting first-quarter earnings and revenue that topped analysts' expectations, with the latter rising to $1.19 billion thanks to the firm's improved advertising platform. At last glance, SNAP is up 24.5% to trade at $14.20. Snap stock is on track for its best single-session gain since February 2022, and has now cleared recent congestion below $12.50. Still, the shares are down 15.1% in 2024, sti ...

Snap (NASDAQ:SNAP) stock rose sharply overnight on solid earnings, positive guidance, and hope that banning TikTok will win market share in the social media space.Snap lost $305 million, 19 cents per share, on revenue of $1.19 billion during the March quarter. But revenue was up 21% and there was free cash flow of $38 million.Snap has a TikTok competitor called Spotlight. The company said in its earnings release that Spotlight traffic has jumped 125% in the last year.SNAP stock was due to open this morning ...

Key TakeawaysSnap shares soared more the 25% in premarket trading Friday after the Snapchat parent posted quarterly results above analysts' estimates and issued a better-than-expected current-quarter outlook.The company expects its daily active user count to grow to 431 million by the end of the current quarter, above the 430 consensus view.Recent enhancements to the company's platform helped it attract small to medium-sized advertisers in the quarter.Snap shares may run into overhead resistance around $15. ...

Snap Inc. (NYSE: SNAP) made a splash with its Q1 2024 earnings report released on April 25th, showcasing impressive financial results that exceeded market expectations. The tech giant reported a significant revenue increase of 21% year-over-year, reaching $1.19 billion, outpacing analyst estimates. This robust growth propelled Snap’s shares to surge by over 23% in after-hours trading.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.Key highlights from ...

In a refreshing twist, Snapchat (NYSE: SNAP) saw a major boost in its stock after releasing its Q1 earnings, surpassing expectations by a large margin. In after-hours trading, the stock soared by as much as 30%. A positive momentum carried over into premarket trading, with gains nearing 25%, pushing SNAP shares to $14.20 from their closing price of $11.40.SNAP stock premarket gains on April 26. Source: Google FinanceFollowing this significant surge, investors are now pondering whether SNAP stock can reclaim ...

Snap (SNAP) reported $1.19 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 20.9%. EPS of $0.03 for the same period compares to $0.01 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.12 billion, representing a surprise of +6.79%. The company delivered an EPS surprise of +160.00%, with the consensus EPS estimate being -$0.05.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how th ...

Snapchat parent company Snap believes that augmented reality (AR) will be “one of the most meaningful advancements in computing that the world has ever seen.”Evan Spiegel, CEO of Snap, said this Thursday (April 25) during the company’s quarterly earnings call. He said that Snap considers AR to be one of the company’s three strategic priorities, alongside revenue growth and community growth.“We have never worked on anything as profound and meaningful as augmented reality,” Spiegel said during the call. “AR e ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to________ Commission File Number: 001-38017 _________ ...

Snap Inc. (NYSE:SNAP) Q1 2024 Earnings Conference Call April 25, 2024 5:30 PM ET Company Participants David Ometer - Head, Investor Relations Evan Spiegel - Chief Executive Officer & Co-Founder Derek Andersen - Chief Financial Officer Conference Call Participants Doug Anmuth - JPMorgan Ken Gawrelski - Wells Fargo Rich Greenfield - LightShed Partners Ross Sandler - Barclays James Heaney - Jefferies Michael Morris - Guggenheim Benjamin Black - Deutsche Bank Mark Shmulik - Bernstein Dan Salmon - New Street Res ...