Categories AlphaGraphs, Earnings, Technology
A quick look at Snap Inc. (SNAP) Q1 2020 Earnings Results
Photo-sharing platform Snap Inc. (NYSE: SNAP) reported a double-digit revenue growth for the first three months of 2020, despite facing pandemic-related disruptions in the latter part of the quarter. The company’s stock closed Tuesday’s regular trading lower, but gained during the extended session. The bottom-line missed estimates, while revenues beat.
On an adjusted basis, the company reported a loss of $0.08 per share, compared to a loss of $0.10 per share in the first quarter of 2019. Unadjusted loss narrowed to $305.9 million or $0.21 per share from $310.4 million or $0.23 per share last year. At $462 million, first quarter revenue was up 44% year-over-year. There was a 20% growth in daily active users.
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