deadline.com
Dade Hayes
tv
video
film
broadway
and
Dade Hayes
Snap Inc. Posts Q1 User And Revenue Surge As COVID-19 Provides Tailwind
Reading now: 914
deadline.com
deadline.comBy Dade Hayes Finance Editor Snapchat parent Snap Inc. delivered better-than-expected revenue in the first quarter, but slightly undershot Wall Street analysts’ forecast for earnings (or lack thereof).
Total revenue came in at $462.5 million, a 44% gain from the same quarter a year ago. The company had projected quarterly revenue of $450 million to $470 million, higher than analysts’ consensus for $431 million.
Snap recorded a loss of eight cents a share, which was wider than analysts’ expectation of a 7-cent loss, but it marked an improvement from a year ago, when the loss was 10 cents.
The number of daily active users (DAUs) climbed to 229 million, which was ahead of internal guidance and a 20% leap from the same period a year ago.
Read more on deadline.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
Report this news
Related News
Celebrities
Locations