Snap Inc. (SNAP)
SNAP offers Snapchat a camera application with various functionalities that enable people to communicate visually through short videos and images, and Spectacles, an eyewear product that connects with Snapchat and captures photos and video from a human perspective.
In April, independent performance marketing firm Tinuiti announced an agreement with SNAP to become a strategic partner. “Tinuiti has a proven record of creating new advertising opportunities and achieving performance-driven success for its clients. With this partnership, Tinuiti will be able to leverage the power of Snap to accomplish those goals.”, said Nadav Geft, Manager of Agency Development, SNAP.
SNAP’s revenues increased 38.1% year-over-year to $1.06 billion in the first quarter ended March 31. The company’s adjusted EBITDA grew 3,872.3% year-over-year to $64.47 million. Cash, cash equivalents, and restricted cash balance came in at $2.41 billion, up 149.2% from the same period last year.
The company’s EPS is expected to grow 158.5% year-over-year to $0.63 for the fiscal year 2023. Street expects SNAP’s revenue for the same year to increase 36.1% from the prior year to $6.90 billion. Moreover, SNAP has topped three consensus EPS estimates out of the trailing four quarters, which is impressive.
SNAP’s shares have slumped 71.9% year-to-date to close yesterday’s trading session at $13.20. However, it has gained 10.8% intraday.
https://www.barchart.com/story/news/8770995/...cks-to-buy-on-weakness
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