Snap

By Nick Devor TikTok’s pending ban in the U.S. will leave its 170 million stateside users with hours of time to spend on other apps. Competing social media platforms are eager to get their share, but the attention won’t be spread evenly across the social media landscape. TikTok is a unique animal — one I’ve become well acquainted with as Barron’s social media editor. I’m responsible for posting my colleagues’ work to Facebook, Instagram, TikTok, and Snap, so I have plenty of experience with how these platforms work, and the strengths and weaknesses of each. I’m not sure investors are fully up to speed on those idiosyncrasies. Snap stock, for instance, jumped as much as 7% Friday following a Supreme Court hearing that left traders thinking that justices wouldn’t stop the ban. In fact, for months, Snap has been cited as a major beneficiary of a TikTok ban. I can […]

Snap’s (SNAP) improving ad trends, partnerships and technologies will drive revenue and earnings higher over the next two years but greenshoots are already reflected in the stock, analysts at Morgan Stanley wrote in a note emailed Wednesday. The brokerage nearly doubled its price target on the stock to $13 from $7 and increased its 2024 and 2025 revenue targets by 4% and 6%, respectively. It also lifted projections on earnings before interest, taxes, depreciation, and amortization for those years by 43% and 31%. Better near-term ad trends, artificial intelligence, China-based ad spending, and a third-party Amazon (AMZN) partnership that could drive conversion and pricing are positive trends for the company, according to Morgan Stanley’s report. The latter two factors are “the most material,” it wrote. In Asia, Temu’s budget for global operating expenses, primarily consisting of advertising, is set to grow by 34% in 2024 to $5.9 billion. While Meta’s

Snap’s (SNAP) revenue estimates for 2024 and 2025 were increased by about 4% and 6% respectively by Morgan Stanley, according to a note from the investment bank. Morgan Stanley pointed to improving near-term advertiser performance and conversions, China-based advertiser spending and Snap’s partnership with Amazon.com (AMZN). “The partnership highlights an opportunity for Snap to have more commerce oriented ads that could drive higher conversion and pricing,” the investment bank said. Morgan Stanley also said that artificial intelligence is another tailwind that could provide further upside for Snap, noting the company’s investment in AI tools to enhance organic and paid content targeting and attribution. Morgan Stanley raised Snap’s price target to $13 from $7 while keeping its underweight rating, saying that the stock has overshot over how quickly the platform will turn.

Snap Inc. Announces Third Quarter 2023 Financial Results Revenue increased 5% year-over-year to $1,189 million Daily Active Users increased 12% year-over-year to 406 million Net loss was $368 million and Adjusted EBITDA was positive $40 million SANTA MONICA, Calif.–(BUSINESS WIRE)–October 24, 2023– Snap Inc. (NYSE: SNAP) today announced financial results for the quarter ended September 30, 2023. “Our revenue returned to positive growth in Q3, increasing 5% year-over-year and flowing through to positive adjusted EBITDA as our reprioritized cost structure demonstrated the leverage in our business model,” said Evan Spiegel, CEO. “We are focused on improving our advertising platform to drive higher return on investment for our advertising partners, and we have evolved our go-to-market efforts to better serve our partners and drive customer success.” Jerry Hunter, Chief Operating Officer, has notified Snap that he will retire. Mr. Hunter joined Snap seven years ago and served an important role in

Snap: Internal Forecast Assumes a 4Q Rev Range of $1.32B to $1.375B。

Snap (NYSE:SNAP) reported a Q2 non-GAAP loss per diluted share of $0.02, unchanged from last year. Analysts polled by Capital IQ expected a normalized loss of $0.04 a share. Revenue for the quarter ended June 30 was $1.07 billion, down from $1.11 billion a year ago. Analysts surveyed by Capital IQ expected $1.06 billion. For Q3, SNAP expects revenue of between $1.07 billion to $1.13 billion versus analysts’ consensus of $1.13 billion.

Snap (NYSE:SNAP) reported quarterly earnings of $0.01 per share which beat the analyst consensus estimate of $(0.01) . The company reported quarterly sales of $988.61 million which missed the analyst consensus estimate of $1.01 billion by 2.12 percent. “Our community continues to grow, reaching 383 million daily active users in Q1, and we are working to deepen engagement with our content platform while building innovative new features and services like My AI,” said Evan Spiegel, CEO. “We are working to accelerate our revenue growth and we are using this opportunity to make significant improvements to our advertising platform to help drive increased return on investment for our advertising partners.” Q1 2023 Financial Summary •Revenue was $989 million, compared to $1,063 million in the prior year. •Net loss was $329 million, compared to $360 million in the prior year. •Adjusted EBITDA was $1 million, compared to $64 million in the prior year.

Snap (NYSE:SNAP) CEO Evan Spiegel said Thursday that the company’s Snapchat product surpassed 750 million monthly active users, up from 600 million in April 2022 and 500 million in April 2021. The company made the announcement at its investor day.

Snap (NYSE:SNAP) said its “internal forecast” is that revenue will decline 2% to 10% in the first quarter of 2023, significantly lower than the market expectation of 1.48% year-over-year growth, which is also the first time Snap has predicted a decline in quarterly results.