Snapchat Monthly Users Surpass 500 Million; Partners with Poshmark
Snapchat s monthly active users surpassed a half-billion. Roughly 40% of the user base is now located outside North America and Europe.
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Snapchat, the photography-focused app, reached 500 million monthly active users, parent Snap (
SNAP) - Get Report said Thursday, as the company entered a partnership with online retailer Poshmark (
At last check, shares of Snap were up 5.3% to $56.73, while Poshmark was nearly 10% higher at $38.68. [Nearly] one of every two smartphone users in the U.S. is on Snapchat, Chief Executive Evan Spiegel said in opening Snap s partner summit, according to Yahoo Finance.
Spiegel said that roughly 40% of the user base is now located outside North America and Europe.
The social media firm reports 280 million average daily active users.
Snap shares were about 5% up in extended trading on Thursday.
Snap Inc. (NYSE: SNAP) published its earnings report for the fiscal first quarter on Thursday that topped analysts’ estimates for earnings and revenue.
Snap shares were reported close to 5% up in after-hours trading on Thursday. Including the price action, the stock is now exchanging hands at £43.26 per share versus a year-to-date high of £50.88 per share in the last week of February. In comparison, Snap had started the year 2021 at a lower £35.81 per share.
Snap’s Q1 financial results versus analysts’ estimates
Snap Climbs as First-Quarter Results Beat Expectations
Snapchat s parent narrowed its first-quarter loss as daily active users rose 22% year-over-year to 280 million.
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Snap (
SNAP) - Get Report beat Wall Street s first-quarter expectations Thursday as the parent of the Snapchat photography-focused app reported a surge in active daily users.
Shares of the Santa Monica, Calif., company at last check were 4% higher at $59.35.
Snap reported a net loss of $287 million, or 19 cents a share, compared with a loss of $306 million, or 21 cents, in the year-earlier quarter. Revenue increased 66% to $770 million.
Analysts surveyed by FactSet were expecting the company to report a loss of 26 cents a share on revenue of $744 million.
Snap shares hit record on bullish sales forecast
“It is augmented reality that is driving our future,” Snap Chief Executive Evan Spiegel says.
(Jae C. Hong/ Associated Press)
By Naomi Nix
Print
Snap Inc. shares jumped to a record, reversing an earlier decline Tuesday, after the social media company forecast revenue growth of 50% or more for several years, buoyed by investments in more engaging advertising and innovations in augmented reality.
The company, parent of the Snapchat app, is “in a position to drive multiple years of 50%-plus revenue growth,” Peter Sellis, senior product director, said in a presentation Tuesday at Snap’s first investor day. At the event, executives outlined a vision for how the Santa Monica company will boost its audience while maintaining user privacy and trust.