Snap reported revenue growth of 66%, surpassing all Wall Street forecasts

News

Snap reported revenue growth of 66%, surpassing all Wall Street forecasts

27.04.2021 News

Shares of Snap Inc. rose sharply on Friday, offsetting last week’s decline as investors praised its financial report.

Key Snap figures for the 1st quarter of 2021

  • For the first three quarters of this year, Snap reported a break-even point per share, while analysts’ average estimates were reduced to a 6 percent loss per share.
  • Revenues increased by 66% compared to the same quarter in 2020 and amounted to $ 770 million, which exceeds Wall Street’s expectations of $ 743.8 million.
  • Snap maintained a high growth rate of global active users (DAU) of 22% to 280 million compared to analysts’ forecast of 275 million. Growth was achieved mainly through the addition of international users, while in North America and Europe the increase was a modest 5% and 9% respectively.
  • The average revenue per Snapchat user in the first quarter of 2021 was $ 2.74, which is slightly higher than the forecast of $ 2.72.

 

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