Tuesday, 20 February, 2018

Snapchat stock soars 20% after ending losing streak

Snap Inc. logos are seen on the floor of the New York Stock Exchange on the eve of the company's IPO in New York U.S Snap Inc. logos are seen on the floor of the New York Stock Exchange on the eve of the company's IPO in New York U.S
| 07 February, 2018, 02:02

Snapchat said it added 9 million daily users in the fourth quarter, its largest growth spurt since going public a year ago. The business's quarterly revenue was up 62.2% compared to the same quarter last year. equities research analysts predict that Snap will post -3.03 EPS for the current fiscal year.

The company reported fourth-quarter results as Wall Street was looking for signs of life from an app that struggled at points past year.

Investors were impressed. The company's shares, which have almost halved in the past year, rose more than 20 percent in after-hours trading to $16.95.

The results surpassed Wall Street expectations.

Another feather in Snap's cap: Average Revenue Per User, which came in well above the $1.36 ARPU analysts expected. That would also put Snap's yearly sales at $793 million, nearly double the $404 million it brought in in 2016.


To make its app more friendly to users and advertisers, Snap launched a redesigned app in November, splitting "friends" from content feeds.

Analysts were expecting the company to add 6 million users during the fourth quarter. The company added just 4.5 million new daily users last quarter, down from the eight million analysts were looking for.

The company has also suffered from unfavorable comparisons to Facebook Inc.'s Instagram, which is rapidly expanding and aggressively copying Snapchat's most-popular features.

Snap said in its IPO prospectus that restricted stock units include performance incentives and time-based incentives, with most of the latter vesting over four years.

Snapchat has sought to distinguish itself from Facebook with a design that "separates social from media", according to Spiegel, who said this helps avoid "many of the problems that arise when friends are commingled with professional content creators". Further, the company is not profitable and its advertising business has not yet matured. Snapchat users must know the feeling, since the update itself was released a few weeks ago without any word from the company, as reported by TechCrunch's Josh Constine.

Recommended

Wells Fargo's Rehab Requires Change at the Top Wells Fargo's Rehab Requires Change at the Top Nine current board members including Chairman Betsy Duke were on the panel before the scandals began erupting. Commercial real estate prices are now "quite high relative to rents", Yellen said.

Johnny Sexton seals late win for Ireland in Paris Johnny Sexton seals late win for Ireland in Paris Had Dupont come off with a non-head or blood injury , the Racing 92 player would not have been allowed back on. Former Ireland skipper Brian O'Driscoll was among those who questioned the fairness of the decisions.

Maldives Chief Justice detained as president declares martial law Maldives Chief Justice detained as president declares martial law The announcement came a day after President Abdulla Yameen declared a state of emergency and arrested two Supreme Court judges. He was also president between 1978 to 2008 when the Maldives, which relies on tourism, became a multi-party democracy.

Rahul Dravid unhappy with BCCI over cash reward Rahul Dravid unhappy with BCCI over cash reward Shaw, who was seen overjoyed at the World Cup victory on Saturday, said: "It is a proud and different feeling to play for India ". What impressed me was the level of maturity that they have and the confidence that these players have.

Quake strikes off coast of Taiwan, hotel collapses Quake  strikes off coast of Taiwan, hotel collapses The Ministry of Foreign Affairs and Trade said it had received no requests for consular assistance following the quake. A group of Kiwis caught up in the magnitude-6.4 Taiwan quake ran from their hostel and straight for higher ground.

'This Is Us' Recap: Jack's Death Is Finally Explained & It's Devastating 'This Is Us' Recap: Jack's Death Is Finally Explained & It's Devastating What story or aspect of Jack's life do you want to know more about in season 2 and beyond? If Mandy Moore's warning is any indication, you might need a bit more than a few tissues.

Melania Trump Refused to Pose for a Joint Picture With Her Husband Melania Trump Refused to Pose for a Joint Picture With Her Husband First Lady Melania Trump , 47, flew to Cincinnati in OH to visit Cincinnati Children's Hospital. The first lady has taken an interest in children born with neonatal abstinence syndrome.

2018 iPhones Expected to Use Intel Modems Exclusively 2018 iPhones Expected to Use Intel Modems Exclusively Even though Intel will be the sole supplier of baseband modems for 2018 iPhones , its exclusivity might not last long. Qualcomm is expected to aggressively pursue orders from Chinese smartphone makers to offset the lost orders.

U.S. considers use of first-strike nuclear weapons U.S.  considers use of first-strike nuclear weapons Martin Schulz, who challenged Angela Merkel last September, called for remaining American bombs to be removed from Germany. Only one country has ever used nuclear weapons against another country.

The Flu: What To Do If You Get Sick The Flu: What To Do If You Get Sick It's been an active flu season, and the district's Health Services Coordinator, Janette M. But the agency said most people with influenza are being infected with the H3N2 virus.

Gary Neville podcast - Liverpool 2-2 Tottenham Gary Neville podcast - Liverpool 2-2 Tottenham I think nothing, to be honest. "It was an outstanding performance, [he was] a threat the whole 90 minutes, that's true". Liverpool remain in third place, while Tottenham stay two points behind Klopp's side in fifth.

China confirms relations with Latin America to be founded on mutual interests China confirms relations with Latin America to be founded on mutual interests The U.S. and its two neighbors have been hitting speed bumps over trade negotiations. His trip will include stops in Mexico, Argentina, Peru, Colombia and Jamaica.

Eagles starting D-lineman Tim Jernigan returns to practice | Columbus Ledger-Enquirer Eagles starting D-lineman Tim Jernigan returns to practice | Columbus Ledger-Enquirer Haley Parks' father tells NJ.com the team reached out on social media Friday, offering his daughter the tickets. Haley was sitting in a restaurant when she saw the post and said she "literally started screaming" over it.

Trump's lawyers argue Mueller has not met threshold for presidential interview Trump's lawyers argue Mueller has not met threshold for presidential interview Robert Mueller on February 16, 2011, as he testifies before a Senate Intelligence Committee hearing in Washington, D.C. Trump has denied the notion that his campaign colluded with Moscow, and has called the investigation a "witch hunt".

United seek a reaction on Sanchez's home bow Mata curled a fine cross in towards the near post from the left flank and Lukaku nipped in front of his marker to divert home. The no.7's penalty was parried by keeper Jonas Lossi, but the Chilean followed up to claim his first goal in a United shirt.