Snap Inc. (SNAP - Free Report) just released its third quarter fiscal 2017 financial results, posting earnings of a loss of 14 cents per share and revenues of $207.9 million. Currently, SNAP is a #3 (Hold), and is down 16.3% to $12.64 per share in trading shortly after its earnings report was released.
Beat earnings estimates. The social media company reported earnings of a loss of 14 cents per share, beating Street consensus estimates of a loss of 15 cents per share. Net loss came in at $443.2 million for the quarter.
Missed revenue estimates. The company saw revenues of $207.9 million, lagging behind our consensus estimate of $236 million.
Daily active users (DAUs) grew to 178 million in Q3, an increase of 17% year-over-year and 2.9% quarter-over-quarter. This sequential growth was much slower than the 4.2% in Q2 and 5% in Q1.
Average revenue per user (ARPU) was $1.17, reflecting an increase of 39% from the prior year period. Hosting costs per DAU grew as well, and were 68 cents for the quarter.
Here’s a graph that looks at Snap’s price, consensus, and EPS surprise:
Snap Inc. provides technology and social media services. The Company's principal product Snapchat, is a camera application that helps people to communicate through short videos and images. Snap Inc. is headquartered in Venice, California.
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