Company News: Snap (SNAP) quarterly results beat analysts’ estimates

Market news

24 July 2019

Company News: Snap (SNAP) quarterly results beat analysts’ estimates

Snap (SNAP) reported Q2 FY 2019 loss of $0.06 per share (versus -$0.14 in Q2 FY 2018), better than analysts’ consensus estimate of -$0.10.

The company’s quarterly revenues amounted to $0.388 bln (+48.0% y/y), beating analysts’ consensus estimate of $0.358 bln.

The company also reported its DAUs were 203 mln in Q2 FY 2019 (versus estimates for 192 mln) compared to 190 mln in Q1 2019 and 188 mln in Q2 2018.

Snap issued upside guidance for Q3 FY 2019, projecting revenues of $410-435 mln (versus analysts’ consensus estimate of $400.23 mln) and adjusted EBITDA of -$85-60 mln (versus analysts’ consensus estimate of -$96 mln).

SNAP rose to $16.41 (+10.65%) in pre-market trading.

Eurozone PMI drops to 51.5 in July due to deepening manufacturing contraction - ING

China approves tariff-free soybean purchases from U.S. as goodwill - Bloomberg reports, citing people familiar with the situation

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