Snap (SNAP) Tops Q1 EPS by 29c, Offers Guidance
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Snap (SNAP) raised to Buy at HSBC as top-line growth accelerates
April 26, 2024 9:58 AM EDTOn Friday, Snap (NYSE: SNAP) received an upgrade from HSBC from a 'Reduce' to a 'Buy' rating, with the price target being increased to $15.10, up from the previous $10.00. This change in stance comes after Snap reported a robust first quarter for 2024, with revenues and earnings surpassing HSBC's estimates and the Visible Alpha consensus.
Snap disclosed its first-quarter earnings after the market closed on Thursday, revealing revenues of $1,195 million, a 21% year-over-year increase. This figure exceeded HSBC's... More
Snap beats first-quarter expectations, shares jump 25%
April 25, 2024 4:13 PM EDTBy Sheila Dang
(Reuters) -Snap beat Wall Street's expectations for quarterly revenue and user growth on Thursday, as improvements to its advertising system delivered results faster than anticipated.
Shares of Snap spiked 25% to $14.32 in after-market trading.
The owner of photo messaging app Snapchat has been working over the past year to improve how it targets ads to users and simplify the way people interact with the ads. The company has historically struggled to compete against much larger rivals like Facebook owner Meta Platforms for digital ad revenue.
... More