Snap's Slow User Growth Dims Quarterly Earnings

Snap's Slow User Growth Dims Quarterly Earnings

Snap's Slow User Growth Dims Quarterly Earnings

Finally, Instinet restated a "reduce" rating and set a $14.00 target price on shares of Snap in a report on Friday, June 9th.

With sentiment at such ghastly levels, and our view that Snap can monetize its unique position with millennials, we believe the stock is in a bottoming process.

Average revenue per user (ARPU) was $1.05, an increase of 109% over the second quarter of a year ago when ARPU was $0.50.

Snap's stock fell as much as 17 percent to $11.40 a share in after-hours trading after it said revenue rose 153 percent to $182 million while net profit almost quadrupled to $443 million, or 16 cents a share.

All CEO Evan Spiegel has to do is something he has disparaged since the company was founded: sell out ... to Alphabet Inc (NASDAQ:GOOGL), no less.

"That in and of itself doesn't create support for Snap, but it should reduce the people who are inclined to flee based on the performance", Gellert said.

Snapchat also wanted analysts to pay attention to the growth in North America, where the users are more valuable.

Snap also reported 173 million DAUs during the second quarter.

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Salvatore Recco, executive vice president at investment advisory service 50 Park Investments, said: "There is a lot of heavy competition and the company has not figured out how to monetise its audience yet". Easy to use and piggybacking on Instagram's existing popularity, Stories expanded Snapchat's idea to a broader range of users. "However, user growth looks grim for Snapchat, which has seen stagnant growth in recent quarters since Instagram launched a copycat "Stories" feature".

With the lackluster results and stock price declining, Spiegel did promise not to sell any of his own shares in the company, a move usually reserved to instill confidence. The analyst asked which types of techniques Spiegel didn't like.

Snap's daily active users grew from 143m last year to 173m in Q2, up 21pc year-on-year.

Facebook, which once tried to buy Snapchat but was rejected, has instead spent its time taking the yellow app's most popular features.

Spiegel praised Snapchat's famous dancing hot dog, calling it the "world's first augmented reality superstar".

Snap Inc, formerly Snapchat, Inc, is a camera company. On average, analysts anticipate that Snap Inc. will post ($0.56) earnings per share for the current year.

"We've always been last to market competing against giant companies, and we've historically been able to grow our business in markets that are highly competitive and saturated by our competitors because we're so focused on innovation", he said. The company earns some revenue from branded or sponsored filters and lenses, but the bulk comes from advertisements. Snap reported a loss of 16 cents a share, excluding some items, compared to average analyst expectations of 15 cents a share, according to Yahoo Finance.

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