Company News: Snap (SNAP) posts surprise quarterly profit

Market news

23 July 2021

Company News: Snap (SNAP) posts surprise quarterly profit

Snap (SNAP) reported Q2 FY 2021 earnings of $0.10 per share (versus -$0.09 per share in Q2 FY 2020), better than analysts’ consensus estimate of -$0.01 per share.

The company’s quarterly revenues amounted to $0.982 bln (+116.2% y/y), beating analysts’ consensus estimate of $0.847 bln.

The company also issued upside guidance for Q3 FY 2021, projecting revenues of $1.07-1.085 bln versus analysts’ consensus estimate of $1.01 bln.

SNAP rose to $73.22 (+16.28%) in pre-market trading.

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