Snap shares rocket 28% after company reports unexpected profit, better-than-expected revenue

📆 27/04/2024 04.33.00
📰 CNBC

⏱ Reading Time:
27 sec. here
7 min. at publisher
📊 Quality Score:
News: 31%
Publisher: 72%

Technology Berita

Business,Social Media,Breaking News: Technology

Snap shares soared on Friday after the company provided uplifting results, suggesting its online ad business is getting back on track.

"I think more broadly, we saw a much more robust brand environment," CFO Derek Andersen said on the earnings call.

Revenue in the first quarter increased 21% to $1.19 billion from $989 million a year earlier, topping analysts' estimates for sales of $1.12 billion, according to LSEG. Snap said adjusted EBITDA "exceeded our expectations" and was primarily driven by operating expense discipline, as well as accelerating revenue growth.

"I think more broadly, we saw a much more robust brand environment, which played out in all of our regions in Q1," CFO Derek Andersen said on the earnings call.

Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:

Tulis Komentar

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Plugin EVs Take Nearly 28% Market Share in France in MarchIn March, plugin electric vehicles (EVs) accounted for 27.9% of the auto market in France, showing growth compared to the previous year. Full electric volume increased by 11% year-on-year, while plugin hybrid volume grew by 4%. The Peugeot e-208 remained the top-selling full electric vehicle for the third consecutive month.
Sumber: cleantechnica - 🏆 565. / 51 Baca lebih lajut »