Snap Finally Advances On The Ad Front

Benzinga05-01

Last Thursday, Snap Inc (NYSE: SNAP) reported its first quarter financials, showing that the improvements it made to its advertising system showed results faster than anticipated. Upon the earnings ...

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Upon the earnings ...</p>\n\n<a href=\"https://finance.yahoo.com/news/snap-finally-advances-ad-front-183458951.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0348723411.USD","symbol_name":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","start_time":0,"source_url":"https://finance.yahoo.com/news/snap-finally-advances-ad-front-183458951.html","article_id":"2432000963","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/pU1skTHFmWU6bZ0cZUHl6g--~B/aD02NzU7dz0xMjAwO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/Benzinga/77391d21ddf0f79ba2f2358c8fcff25b"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2432000963","pubTimestamp":1714502098,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Last Thursday, Snap Inc  reported its first quarter financials, showingthat the improvements it made to its advertising system showed results faster than anticipated. 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It does not represent Benzinga's repo","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BK4077":"互动媒体与服务","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU0433182093.SGD":"First Eagle Amundi International AS-C SGD","BK4588":"碎股","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","SNAP":"Snap Inc","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0109391861.USD":"富兰克林美国机遇基金A Acc","BK4551":"寇图资本持仓","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU0068578508.USD":"First Eagle Amundi International Cl AU-C USD","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4508":"社交媒体","GB00B4QBRK32.GBP":"FUNDSMITH EQUITY \"R\" (GBP) INC","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","GB00B4LPDJ14.GBP":"FUNDSMITH EQUITY \"R\" (GBP) ACC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","META":"Meta Platforms","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","BK4592":"伊斯兰概念","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","BK4585":"ETF&股票定投概念","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4507":"流媒体概念","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4576":"AR","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","BK4587":"ChatGPT概念","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD"},"translate_title":"Snap终于在广告方面取得进展","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SNAP":0.9,"META":0.9},"content_text":"Last Thursday, Snap Inc (NYSE: SNAP) reported its first quarter financials, showing that the improvements it made to its advertising system showed results faster than anticipated. Upon the earnings beat, strong revenue growth as well as the rise of daily active users to 422 million, shares surged 21% during after-hours trading.\nFirst quarter results show Snap’s efforts to rebuild its ad business are working.\nFor the first three months of the year, Snapchat-parent reported revenue rose 21% to $1.19 billion, surpassing LSEG’s estimate of $1.12 billion. More importantly, Snap finally reported double digit sales growth, after six consecutive quarters of single-digit growth and declines. Advertising brought in $1.11 billion to the revenue table, while Other Revenue grew 194% YoY to $87 million, fueled by more than 9 million Snapchat+ subscribers. As a result, adjusted EBITDA of $46 million surpassed expectations as StreetAccount expected a loss of $68 million. Adjusted EPS amounted to 3 cents, also greatly surpassing LSEG’s estimate of a 5 cents loss. Net loss narrowed to $305.1 million or 19 cent loss per share.\nSecond quarter guidance also surpassed estimates\nFor the current quarter, Snap guided for revenue in the between $1.23 billion and $1.26 billion, while StreetAccount expected $1.22 billion. Its adjusted EBITDA outlook is between $15 million and $45 million, also greatly surpassing Wall Street’s average expectation of $15.5 million. \nSocial media companies are benefiting from a stabilizing economy.\nLast week, Facebook-parent, Meta Platforms (NASDAQ: META), surpassed both top and bottom line analyst estimates with its latest earnings report. However, Meta shares plunged due to a weak revenue guidance. For its first quarter, Meta reported its revenue rose 27% to $28.65 billion, which is its fastest growth rate since 2021, with net income more than doubling to $12.37 billion as besides the revenue acceleration, it did a great job in lowering sales and marketing costs by 16% YoY. Ad business, that makes most of Meta’s revenue, rose as much as 27% to $35.64 billion.However, Meta also increased its capital expenditures forecast due to ramping up AI investments. It guided for the 2024 capital expenditures in the range between $35 billion and $40 billion. Although Meta still hasn’t delivered its metaverse promise, its track record when it comes to social media and ads is as strong as it gets.\nAlthough Snap is still far behind Meta, both in terms of size and growth, they are facing similar challenges and after all, Snap is targeting a narrower niche of younger social media users. At the end of the day, Snap showed its business is improving faster than expected, providing hope that the Snapchat parent is finally on the right track to monetize its value proposition.\nDISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.\nThis article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.\n\"ACTIVE INVESTORS' SECRET WEAPON\" Supercharge Your Stock Market Game with the #1 \"news & everything else\" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!\nGet the latest stock analysis from Benzinga?\n\nSNAP (SNAP): Free Stock Analysis Report\n\nThis article Snap Finally Advances On The Ad Front originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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