In This Article:
Snap Inc. (SNAP) posted Q3 adjusted earnings of $0.08, better than the $0.051 Wall Street was expecting. Revenue of $1.37 billion was just above the Bloomberg consensus estimate of $1.36 billion. Daily active users in the quarter were 443 million, better than the expected 441.16 million.
Snap sees fourth quarter revenue in a range of $1.51 billion to $1.56 billion versus a $1.56 billion estimate.
Market Domination Overtime Anchors Julie Hyman and Josh Lipton break down the social media giant's results.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
This post was written by Stephanie Mikulich.
Snap, delivering third quarter results. Let's go get those to you, beating estimates on the top and bottom lines. Company also authorizing a share buyback up to $500 million. Stocks pop at about 2% right now. Just quickly through the numbers. Q3 EPS 8 cents, truly, that's a beat. Uh, top line revenue 1.37 billion, street was around 1.36 billion. So that's just beat there. Daily active users, 443 million. That looks better than what, uh, the analyst had penciled in. And then looking ahead, sounds like they're calling for Q4 revenue 1.51 to 1.56 billion. Expectation was 1.56 billion. And we can see the stock pop at about two, two and a half percent there.
Yeah, I mean, this one is, uh, swings so much after its earnings. It's actually unusual, I think, to see it only, um, up by about 3% here. If you just look at the company's past few earnings reports, you're talking about, oh, I'll, I'll do this. High double, I don't know. It was, they were down 27% last time they reported. They were up 27% the time before that. They were down 34% the time before that. So maybe this will change during the call and we'll get more of a move from the shares, but it's just interesting to see a relatively, I mean, by Snap terms, this is like unchanged.
Very modest, a very modest thing.
that we're seeing modest reaction to it. Yeah, exactly. Now the big question will be the company did unveil these changes in September. So, I mean, there was like a new design, um, upgrade to the app, to the advertising tech. So that's going to be a big focus. How that, how, how, our executives talk about that on the call will be really interesting.
