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Snap: The title progresses despite a mixed publication


(CercleFinance.com) – Snap Inc., the owner of the video messaging application Snapchat, opened higher on Friday morning, investors seeming to want to retain the most positive elements of a quarterly publication considered contrasting.

The group from Santa Monica (California) this morning unveiled quarterly results in line with expectations, but expressed forecasts deemed a little too cautious.

Its turnover, which comes mainly from advertising, increased by 38% to 1.06 billion dollars, while the consensus was 1.07 billion.

Snapchat’s number of active users grew 18% year-on-year to 332 million at the end of the first quarter, again in line with expectations.

Its net loss widened to $360 million from a negative $287 million a year ago.

For the second quarter, Snap said it is aiming for annual revenue growth of 20% to 25% for adjusted recurring operating income (EBITDA) between zero and $50 million, slightly lower than consensus forecasts. .

Following this half-hearted publication, the Snap action nevertheless increased its progress on Friday morning on the New York Stock Exchange to post gains of 3.7% after just under an hour of trading.

At BofA Global Research, particular emphasis is placed on strong growth trends in advertiser spending, a factor the investment bank believes heralds an acceleration in activity in the second half.

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