Snap Inc. shares were initially up double digits in after-hours trading Tuesday after the company beat user-growth expectations, but the stock gave back most of its gains before its conference call began.
Revenue for Snap rose to $320 million from $230.7 million a year prior. Snap’s revenue came in above the FactSet consensus, which called for $305.7 million. For the current quarter, Snap projects $335 million to $360 million in revenue, whereas analysts had been modeling $346 million.The company added 4 million users in the quarter, bringing its total count up to 190 million and marking the first time in a year that the company grew its daily-active-user count.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »