Snap Inc. (SNAP - Free Report) just released its fourth quarter fiscal 2017 financial results, posting earnings of a loss of 13 cents per share and revenues of $285.7 million. Shares are trading up around 24%, and continuing to climb, to $17.49 shortly after the report was released.
Currently, SNAP is a #3 (Hold) on the Zacks Rank, and earnings estimate revisions are mixed for the next few quarters.
Beat earnings estimates. The social media company posted earnings of a loss of 13 cents per share, beating the Zacks Consensus Estimate of a loss of 15 cents per share. Net loss for the quarter was $(349.98) million.
Beat revenue estimates. The company saw revenue figures of $285.7 million, soaring past our consensus estimate of $251.74 million and increasing 72.4% year-over-year.
For the quarter, Snap reported Daily Active Users (DAUs) of 187 million, an increase of 28.8 million, or 18% year-over-year. This represents the highest net adds since the third quarter of 2016.
Average revenue per user was $1.53, up 46% year-over-year, while cost of revenue per user (CoPRU) was $1.02, up 5% year-over-year.
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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