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.
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Snap could see a 15% move when it reports earnings, traders sayThe options market implies a post-earnings move of 15% in either direction for the social media giant's stock, and trader Dan Nathan sees more potential risk than reward. OptionsAction buy buy buy up to 20!! j/k this is a dog!!!! OptionsAction This POS is selling off to $7.
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Snap to report first-quarter earnings after the bellSnap investors will be looking for signs that last quarter's user growth was no fluke.
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