SunTrust Banks Weighs in on Snap Inc's FY2022 Earnings (SNAP)

07 February, 2018, 01:29 | Author: Pamela Mathis
  • Snap beat expectations and sent its stock price skyrocketing—still minus profit

The poor report included slowing user growth and a revenue miss, and showed no clear path to profitability.

Shares of Snap, the parent company of teen app darling Snapchat, skyrocketed following some rare good news for the company.

Snap shares are up about 23% this year.

The company reported its loss widened to US$350 million in the last three months of 2017 after a US$170 million deficit a year earlier.

For the full year, Snap's revenue rose to $825m, more than double the $404m it made last year. Snap Inc (SNAP) management said the Q4 2017 result was the best quarter for user adds since Q3 2016.

"Our business really came together towards the end of a year ago and I am very proud of our team for working hard to deliver these results", said founder and chief executive Evan Spiegel. The figure is closely watched by investors who hope user growth can be translated into advertising revenue. Analysts had only been expecting Snap Inc (SNAP) to add 6 million daily users for a total user base of 184 million daily users. The Discover feature is important because it's where big media players display their content.

Top judges arrested as Maldives crisis deepens
The release of the politicians would have resulted in the party of President Yameen losing its majority. The United Nations and other foreign governments have urged the Maldives to respect the court order.


Spiegel warned in November that the redesign could be disruptive to Snap's business in the short term, so it will be interesting to see if the company provides any color as to how the rollout is going so far.

The ephemeral messaging app sccessfully wooed more advertisers in the fourth quarter as it became easier to place ads through its still-nascent automated platform, according to Aaron Goldman, chief marketing officer at 4C, which plugs into Snapchat to deliver ads.

Snapchat said it added 9 million daily users in the fourth quarter, its largest growth spurt since going public a year ago. JPMorgan Chase & Co. now owns 7,650,826 shares of the company's stock worth $110,556,000 after acquiring an additional 797,290 shares in the last quarter.

David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now. and Snap Inc. wasn't one of them!

Options are pointing to a double-digit move in the shares, with $15 puts and calls the most widely held options.

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