- Overall revenue was 7 percent better than expected.
- North American revenue was 8 percent better than expected.
- North American daily active users figure was 1 percent better than expected.
- North American average revenue per user was 7 percent better than expected.
- European revenue was 1 percent better than expected.
- European DAU and ARPU were each 1 percent better than expected.
The analyst further noted that 12 of 26 brokerage firms who cover Snap had modeled the company's revenue to rise sequentially despite the regulatory S-1 filing cautioning of a seasonality in revenue.
What's Next For Snap
Looking forward, Helfstein believes Snap's search product could become "fundamentally transformative"; while adding a "real-time-update" vertical, which is "significantly more engaging" than Twitter Inc TWTR.
Also, a Snap-ad-manager release next month should bridge the gap between the company's on-demand geofilter product for micro-small-medium-size businesses/personal consumption and sophisticated API tools.
Bottom line, Snapchat's focus on "few-to-few communication" stands out in the social media landscape and acts as a "durable competitive differentiator" moving forward.
At time of publication, shares of Snap were down 20.84 percent at $18.19.
Related Links: The Sell-Side Sentiment On Snap Ahead Of Its First-Ever Earnings Report Snap's Earnings Report Reinforces Nomura's Bearish Initiation© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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