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Snap Forecasts Multiple Years of 50%-Plus Sales Growth


Snap Forecasts Multiple Years of 50%-Plus Sales Growth
Bloomberg
2/23/2021
Naomi Nix
© Bloomberg
The Snapchat application on a smartphone arranged in Saint Thomas, Virgin Islands, U.S., on Friday, Jan. 29, 2021. Snap Inc. is scheduled to release earnings figures on February 4.
(Bloomberg) Snap Inc. shares jumped to a record, reversing an earlier decline, 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.
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The company, parent of the Snapchat app, is “in a position to drive multiple years of 50%-plus revenue growth,” said Peter Sellis, senior product director, in a presentation Tuesday at Snap’s first-ever investor day. At the event, executives outlined a vision for how Santa Monica, California-based Snap will boost its audience while maintaining user privacy and trust. ....

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Snap Hits $100 Billion Market Value After Doubling in Four Months


Snap Hits $100 Billion Market Value After Doubling in Four Months
Bloomberg
2/22/2021
Jeran Wittenstein
(Bloomberg) Snap Inc. briefly hit $100 billion in market value for the first time after surging usage and a rebounding market for digital ads sent the social-media stock soaring this year.
The Snapchat owner rose as much as 3% on Monday after Morgan Stanley turned bullish, saying it’s poised for faster-than-expected growth in engagement, revenue and profitability. The stock later gave up the gains amid a broad selloff in shares of technology companies. Snap closed down 3.2% on Monday but the stock has more than doubled since October. ....

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