Snap plunges after its earnings beat as analysts say it's going to take longer to get profitable
https://www.cnbc.com/2019/04/24/snap-plunges-after-its-q1-2019-earnings-beat.html
Snap was down more than 6% Wednesday morning after an initial after hours rally on its earnings beat. The drop shaved more than $900 million from its market cap, bringing it just below $15 billion, though the stock is still up more than 104% in 2019.
The stock popped as much as 11% on Tuesday after reporting a loss of 10 cents per share compared to the 12 cents forecast by Refinitiv. Snap also beat analyst estimates on revenue, reporting $320 million compared to the $307 million forecast by Refinitiv. It surpassed expectations on global daily active users (DAUs) and average revenue per user (ARPU) on top of that.
Snap plunges after its earnings beat as analysts say it's going to take longer to get profitable
Apr 24, 2019, 3:40pm UTC
https://www.cnbc.com/2019/04/24/snap-plunges-after-its-q1-2019-earnings-beat.html
> Snap was down more than 6% Wednesday morning after an initial after hours rally on its earnings beat. The drop shaved more than $900 million from its market cap, bringing it just below $15 billion, though the stock is still up more than 104% in 2019.
> The stock popped as much as 11% on Tuesday after reporting a loss of 10 cents per share compared to the 12 cents forecast by Refinitiv. Snap also beat analyst estimates on revenue, reporting $320 million compared to the $307 million forecast by Refinitiv. It surpassed expectations on global daily active users (DAUs) and average revenue per user (ARPU) on top of that.