Snap surges on earnings revenue beat and Q1 user gains
https://techcrunch.com/2020/04/21/snap-surges-on-earnings-revenue-beat-and-q1-user-gains/
The coronavirus pandemic has presented plenty of challenges for ad-reliant social networks, but Snap made clear it was not yet feeling significant negative effects with its Q1 earnings release today.
Snap surged 17% after-hours on news of its Q1 results after dropping nearly 4% during trading today. The company reported revenue of $462 million in line with precious guidance and besting Wall Street’s tempered expectations around $430 million. EPS was -$0.08, slightly worse than analyst expectations of a 7-cent loss.