Snap Inc. (NYSE:SNAP) Posts Earnings Results, Beats Expectations By $0.13 EPS
Aug 12, 2017, 00:09
Arguably not getting enough attention along the way: The impact of Facebook's dominant position in social media advertising is weighing on Snap'srevenue growth the same way it has already weighed on Twitter Inc.'s.
It signals that even as Snapchat plays down user growth, having a strong and broad user base can be crucial to success.
Wall Street, on the other hand, doesn't appear to have the same confidence.
A share lock-up which expires this weekend could provide further misery for Snap and its CEO Evan Spiegel as tied-up investors get an opportunity to get out, Financial Spreads founder Adam Jepsen said. Some investors believe that on an analyst conference call following the quarterly report, Spiegel may reassure investors that he has no immediate plans to sell.
One bright spot: The company did manage to grow its average revenue per user to $1.05 from $0.50 in the year-ago period, a healthy increase of 109%. There was some on-the-surface good news. For comparison, two of Facebook's Snapchat Stories clones, Instagram Stories and WhatsApp Status, have now topped 250 million DAUs. That's compared to $8.3 million in Q1 and $4.5 million in Q4. Analysts polled by Bloomberg had expected 175 million on average. These are the numbers Wall Street is focused on, if not advertisers.
Humanity has now watched Snapchat's animated hot dog gyrate and breakdance more than 1.5 billion times. Though they probably wouldn't be almost as nice as a breakdancing hot dog. "Just because Yahoo has a search box doesn't mean they're Google". Yet, analysts said the tie-up is less about awesome content for Snap and more about TV networks trying to keep up with increasingly scattered audiences. Stifel Nicolaus lowered their price target on Snap from $22.00 to $18.00 and set a "buy" rating on the stock in a report on Friday. The company reported ($2.31) earnings per share for the quarter, missing the Zacks' consensus estimate of ($2.05) by $0.26. Users of the platform are highly engaged, and Snap's new ad buying platform is being rolled out which should reduce friction for advertisers.
But experts aren't impressed that Snap can't generate steady sales growth - "there is little excuse at this late in the game", James Cakmak of Monness, Crespi, Hardt & Co. said ahead of the earnings release. That was more than double the level the prior quarter, meaning ads were shifting more to automation quickly. Snap's quarterly revenue was up 153.1% compared to the same quarter past year. Until the company demonstrates ads in new sections are valuable, analysts and investors are left to do a lot of guesswork, and potentially bet on increased losses. The analyst asked which types of techniques Spiegel didn't like.
The four men arrested over the alleged plot are yet to be charged, as more details about how they were caught comes to light. Etihad operates direct flights to four Australian cities: Brisbane, Melbourne, Perth and Sydney .
If Benchmark Capital's lawsuit is successful, Kalanick would be kicked off of Uber's board of directors. The suit seeks to invalidate three new board seats, included among them the one held by Kalanick.
Female Rebel BBL starts their season from the 9th f December, which is 10 days earlier from the male season of KFC BBL games. Fans of cricket across the world can see the online stream at the official Australian cricket website, and throw its app.
Cold waves have become less frequent since the early 1900s, while heat waves have become more frequent since the 1960s. The President said the decision was to protect American jobs and he promised to protect the environment.
An explosion in Lahore's western suburbs on Monday evening resulted in injuries to more than 26 people, DawnNews reported. The injured have been taken to Services and Mian Munshi hospitals from where 12 of them were discharged after first aid.
The new high-end range from AMD will start with the RX Vega56 graphics card and will retail for $399 according to the company. The graphics card will feature 4,096 stream processors and is rated to offer 12.66 teraflops of performance .
Without further ado, here are the new emotes , victory poses , sprays and highlight intros the newest " Overwatch " update brings. The Overwatch Summer Games of 2017 are finally upon us, and with it, as is customary for all events, comes the lovely new skins.
They must use their vote tomorrow to stand up to grand corruption and vote to remove Jacob Zuma as President. Zapiro's take on the Concourt's decision to put the Secret Ballot call in Baleka Mbete's hands.
The remaining five are expected to be released once the first convoy reaches its destination in Syria. The operation stalled on Tuesday after Jabhat made fresh demands on prisoner releases and exchanges.
North Korea frees ailing Canadian pastor from prison
Two and a half years after he was detained in Pyongyang , a Mississauga-based pastor of Korean descent has finally been released . State Department said last week it would ban U.S. nationals from travelling to the isolated country from September.