Snap Revenue Surges 72% on User Growth, Advertising Gains
Feb 07, 2018, 01:14
Snap's sales climbed to $285 million in the fourth quarter, up 72% from the same period a year earlier.
Almost a year after its initial public offering and lackluster growth, the company behind Snapchat is making a comeback.
"Our business really came together towards the end of a year ago", Chief Executive Officer Evan Spiegel said in a statement. Twitter's expense of $600 million in 2013 was slightly less than its revenue, while LinkedIn had just a $30 million expense and $522 million in sales in 2011, the year it debuted on the market.
Shares traded at $17.73 after the bell, up 26 percent after trading even higher earlier. If the gains hold, Snap's stock could open above its IPO price of $17 a share for the first time since July.
Among other features, the redesign promised to have a clearer delineation between content from friends and content from publishers.
Snapchat has finally made investor concerns disappear. Earlier, they rose 1.5 percent to close at $14.06 in NY. The fourth quarter was an "important quarter for Snap as investor confidence in the company's growth story has waned".
Snap's net loss of 13 cents a share also was more positive by 3 cents a share than analysts' expectations of a loss of 16 cents a share, according to a Thomson Reuters consensus estimate.
Snap's revenue previous year grew about 104 percent to $824.9 million.
The improved margin "shows that they can control costs of user acquisition and of providing service, and that should eventually lead to the leverage necessary to become profitable", analyst Michael Pachter of Wedbush Securities said.
Spiegel said Tuesday that Snap had generated more than $100 million for its content partners in 2017.
"We executed well on our 2017 plan to improve quality, performance, and automation, which removed friction from our advertising business and improved our application for the Snapchat community", Spiegel said in remarks prepared for a conference call with analysts.
Hans Dieter Poetsch, chairman of the board of directors of Volkswagen , said the tests were âincomprehensibleâ in every way. Barbara Hendricks , the German environment minister, said what was known about the tests so far was "vile".
Organisers of the Sochi congress meant to bring together Syrians of all stripes to hammer out a new post-war constitution. The U.N.'s Special Envoy to Syria Staffan de Mistura, did however attend the Sochi congress.
Fox agreed last month to sell cable channels FX and National Geographic, its movie and TV studio and worldwide assets to Disney . SN's Michael McCarthy noted ratings for National Football League regular-season games fell by 9.7 percent this season.
This announcement came after the fourth-quarter earning report of Harley-Davidson, which witnessed the downfall in Harley's sales. During Tuesday's earnings call, the company also announced the development of an electric motorcycle called Project LiveWire .
A killer whale that can mimic words such as "hello" and " bye bye" is thought to be the first of its kind to copy human speech. A high-pitched and eerie voice uttering the name " Amy " is quite clear in the audio released by the study's researchers.
Utd Cap Advisers Lc reported 0.06% stake. 3,200 were reported by Macguire Cheswick And Tuttle Invest Counsel Limited Liability. Central Asset Investments & Management Holdings (Hk) Ltd owns 11.57 million shares or 16.52% of their United States portfolio.
What about Republicans? A whopping 72 percent said Trump is a good role model for children, and only 22 percent disagreed. Gallup conducted the poll by interviewing more than 171,000 people across the country throughout 2017.
Aubameyang has been in fine form for Dortmund this season, with 13 goals scored and three assists in the Bundesliga . The London based club's manager Arsene Wenger even confirmed Arsenal's interest in the former AC Milan player.
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