Snap shares were up nearly 20% in after-hours trading after the company showcased a massive earnings beat, besting analyst expectations on both revenue and earnings per share for Q3. The company was already hovering above an all-time-high, with Tuesday’s beat poised to send the share price from just above $28 to just short of $34 per share. The company posted a $0.01 revenue bet, best expectations of a $0.04 loss, but the real headline was that they delivered $679 million in reported revenue, smashing past Wall Street expectations that pinned their performance for the quarter around $555 million. The revenue numbers represented 52% year-over-year growth, showcasing a huge comeback for the company which has faced some difficult quarters as a public company since making their debut. User growth was up 4% to 249 million daily active users from the 238 million they reported at the end of last quarter, marking an 18% year-over-year increase.

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BING NEWS:
  • Snap shares explode after blowing past earnings expectations
    Snap shares were up nearly 20% in after-hours trading after the company showcased a massive earnings beat, besting analyst expectations on both revenue and earnings per share for Q3. The company was ...
    10/21/2020 - 6:35 am | View Link
  • Quidel, Akoustis Technologies, Netflix, Snap and Texas Instruments highlighted as Zacks Bull and Bear of the Day
    On the other side of Q3, Snap shares were up 17% in late-market trading after its Q3 report was far better than expected. Swinging to earnings of $0.01 per share from estimates of -$0.06, on revenues ...
    10/21/2020 - 3:27 am | View Link
  • Quidel, Akoustis Technologies, Netflix, Snap and Texas Instruments highlighted as Zacks Bull and Bear of the Day
    On the other side of Q3, Snap shares were up 17% in late-market trading after its Q3 report was far better than expected. Swinging to earnings of $0.01 per share from estimates of -$0.06, on revenues ...
    10/21/2020 - 2:44 am | View Link
  • Quidel, Akoustis Technologies, Netflix, Snap and Texas Instruments highlighted as Zacks Bull and Bear of the Day
    Chicago, IL – October 21, 2020 – Zacks Equity Research Shares of ... Swinging to earnings of $0.01 per share from estimates of -$0.06, on revenues of $679 million blowing the doors off the ...
    10/21/2020 - 2:37 am | View Link
  • Quidel, Akoustis Technologies, Netflix, Snap and Texas Instruments highlighted as Zacks Bull and Bear of the Day
    Quidel, Akoustis Technologies, Netflix, Snap and Texas Instruments highlighted as Zacks Bull and Bear of the Day ...
    10/21/2020 - 2:35 am | View Link
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