Snap Just Can’t Get Earnings Right
Snap Inc. (NYSE: SNAP) released its most recent quarterly results after the markets closed on Thursday. The company posted a net loss of $0.16 per share and $182 million in revenue, versus consensus estimates from Thomson Reuters that called for…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Snap Inc. (NYSE: SNAP) released its most recent quarterly results after markets closed Thursday. The company posted a net loss of $0.16 per share and $182 million in revenue versus consensus estimates from Thomson Reuters that called for a net loss of $0.15 per share and $186.22 million in revenue. The second quarter from last year had a net loss of $0.13 per share and $71.8 million in revenue.
Daily active users (DAUs) grew from to 173 million from 143 million in the second quarter of 2016, an increase of 30.5 million or 21% year-over-year. DAUs increased 7.3 million or 4% sequentially, from 166 million in the first quarter 2017.
Average revenue per user (ARPU) was $1.05, an increase of 109% over the second quarter of last year when ARPU was $0.50. ARPU increased 16% sequentially when ARPU was $0.90.
[nativounit]
Hosting costs per DAU were $0.61 in the second quarter, as compared to $0.55 in 2016 and $0.60 in the first quarter of this year.
On the books, cash, cash equivalents, and marketable securities totaled $2.8 billion at the end of the quarter, compared with $987.4 million at the end of the previous fiscal year.
Shares of Snap closed at $13.77 on Thursday, with a consensus analyst price target of $19.05 and a 52-week range of $11.91 to $29.44. Following the release of the earnings report, the stock was down 8% at $12.66 in the after-hours trading session.
[wallst_email_signup]
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
