Snap Shares Plunge On Big Q3 Revenue Miss, DAUs Hit 178 Million

By Zacks Investment ResearchStock MarketsNov 07, 2017 05:36AM ET

www.investing.com/analysis/snap-shares-plunge-on-big-q3-revenue-miss-daus-hit-178-million-200263392

Snap Shares Plunge On Big Q3 Revenue Miss, DAUs Hit 178 Million

By Zacks Investment Research | Nov 07, 2017 05:36AM ET

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Snap Inc. (NYSE:SNAP) just released its third quarter fiscal 2017 financial results, posting earnings of a loss of 14 cents per share and revenues of $207.9 million. Currently, SNAP is a #3 (Hold), and is down 16.3% to $12.64 per share in trading shortly after its earnings report was released.

Snap:

Beat earnings estimates. The social media company reported earnings of a loss of 14 cents per share, beating Street consensus estimates of a loss of 15 cents per share. Net loss came in at $443.2 million for the quarter.

Missed revenue estimates. The company saw revenues of $207.9 million, lagging behind our consensus estimate of $236 million.

Daily active users (DAUs) grew to 178 million in Q3, an increase of 17% year-over-year and 2.9% quarter-over-quarter. This sequential growth was much slower than the 4.2% in Q2 and 5% in Q1.

Average revenue per user (ARPU) was $1.17, reflecting an increase of 39% from the prior year period. Hosting costs per DAU grew as well, and were 68 cents for the quarter.

Here’s a graph that looks at Snap’s price, consensus, and EPS surprise:

Snap Inc. Price, Consensus and EPS Surprise

Snap Inc. Price, Consensus and EPS Surprise | Snap Inc. Quote

Snap Inc. provides technology and social media services. The Company's principal product Snapchat, is a camera application that helps people to communicate through short videos and images. Snap Inc. is headquartered in Venice, California.

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Snap Shares Plunge On Big Q3 Revenue Miss, DAUs Hit 178 Million

Snap Inc. Price, Consensus and EPS Surprise

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