Snap's efforts to reel in new users are starting to pay off

07 February, 2018, 01:50 | Author: Lora Ball
  • Snap Inc (SNAP) Short Interest Update

Tuesday Snap, Inc. closed at $14.06 a share, then rallied 22% in after hours trading.

Snapchat paid its publishing partners "more than $100 million" in revenue-sharing advertising deals previous year, up from $58 million in 2016 and just $10 million in 2015, the company reported on Tuesday. The business's quarterly revenue was up 62.2% compared to the same quarter last year. equities research analysts predict that Snap will post -3.03 EPS for the current fiscal year.

The company expects its year-over-year revenue growth rate to moderate in the current quarter compared with the fourth quarter, Chief Financial Officer Drew Vollero said. Snap's new feature might not have been a direct response to these concerns, but it'll be interesting to see if and how it impacts the way people use Snapchat. If the gains hold, Snap's stock could top its IPO price of $17 a share for the first time since July. That would also put Snap's yearly sales at $793 million, nearly double the $404 million it brought in in 2016. The business had revenue of $207.90 million during the quarter, compared to the consensus estimate of $236.71 million.

"Our business really came together towards the end of a year ago", Spiegel said in remarks prepared for a conference call with analysts. Snap's revenue past year grew about 104 percent to $824.9 million. Its growth over the three months of the third quarter was 2.9%. Barclays raised shares of Snap from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $11.00 to $18.00 in a research report on Tuesday, December 5th.

More news: USA considers use of first-strike nuclear weapons

The redesign has been rolled out to about 40 million users so far, according to Spiegel, with plans to expand it to all users by the end of the first quarter.

Those design changes have put a bigger emphasis on user-to-user sharing, as opposed to content created by publishers and brands.

Advertising revenue rose 74 percent to $281 million, as companies advertised more in the key holiday quarter. The latest crumb of news to come out of Snap Inc. brings word that there's a new update for its other popular app, Bitmoji, offering tons of new styles. Snap's new 8.9 million users will help, but the company will need to keep up the pace in order to thrive.

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