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Snap Q3 figures crushed expectations

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Miguel A. Rodriguez
Miguel A. Rodriguez
21 October 2020
The stock price sky-rocketed after the Q3 earnings report

Snap Inc.'s share price gained roughly 23% after the company posted better-than-expected Q3 earnings.

For the past quarter, Snap reported 249 million daily active users. Compared to the same time last year, the numbers increased by 19%. 

Its Q3 revenue figures came in at $679 million from last year's $446 million. The actual figures topped the $557 million consensus.

The net loss figures came in lower than last year's $227 million at $200 million, or 14 cents per share.

Snap stated that the increases came from their newly adopted business strategy, which focuses on the brand's needs "to align their marketing efforts with platforms who share their corporate values." This refers to the StopHateForProfit Facebook ad boycott when more than 1,000 advertisers have temporarily paused ads on the social media outlet in July to fight the company's misinformation and hate speech policies.

For the future, Snap expects its revenue to grow by 50% and reach 257 million daily users.

Read how other companies have performed in Q3 here!

Sources: cnbc.com, marketwatch.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.