US News Snap share shoots up more than 20 percent after the hours of trading - Snap makes a surprising profit

08:45  21 october  2020
08:45  21 october  2020 Source:   finanzen.net

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Snap shares were up nearly 20 % in after - hours trading after the company showcased a massive earnings beat, besting analyst expectations on both revenue and earnings per share for Q3. The company was already hovering above an all-time-high, with Tuesday’s beat poised to send the share

Snap Inc. is a negative, says strategist. Trading Nation. Snap stock has all but given up the ghost. The stock took another tumble Wednesday, dropping 13 percent in its worst performance since May, after the hasty exit of Chief Financial Officer Tim Stone just eight months into his role.

The Snapchat mother Snap presented the key figures for the past quarter after the US market closed.

Andrew Burton/Getty Images © Provided by Finanz.net Andrew Burton / Getty Images

The growth of the Snapchat photo app amid the coronavirus pandemic has made a deep impression on investors. The shares of the operating company Snap rose by almost a quarter in after-hours trading on Tuesday.

Snap's third-quarter sales increased 52 percent year-on-year to $ 679 million. That clearly exceeded the expectations of the analysts - and can be a signal for a strong advertising business even in the Corona crisis. One concern in the market is that companies affected by the pandemic are scaling back their advertising and thus the business of Internet platforms is sagging.

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Snap Inc. shares have soared this year on expectations that the company is finally turning its business around, and the Snapchat maker will be looking to prove that narrative next Tuesday when it reports second-quarter earnings after the closing bell.

Snap , Inc. ( SNAP ) plunged on its 3rd day of trading . SNAP closed below its IPO open and within inches of its intraday low. Once again, I am surprised at the unwillingness of the analyst community to participate in the hype machine that is the SNAP IPO. Two more important doses of reality greeted

At the same time, Snapchat could also have benefited from a multi-week Facebook boycott by some large advertising customers at the beginning of the quarter. The action should point to hate speech on the world's largest online network. Snap did not provide any information on whether part of the ad budget had migrated to Snapchat. However, CFO Derek Andersen noted that advertisers' re-evaluations of social media platforms have brought Snapchat a better relationship with many of them.

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Snap initially recorded a significant boost for its business at the beginning of the Corona crisis - but then missed its own sales forecast in the second quarter.

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Emergency allotment: States can provide many SNAP households with emergency supplementary benefits up About 60 percent of SNAP households ordinarily receive less than the maximum benefit because (Unfortunately, USDA’s interpretation excluded the lowest-income 40 percent of SNAP

Snap soared as much as 45% when it opened for trading at a share on Thursday. It's unclear how exactly the California company plans to make a profit , especially with daily But Snap , which will trade on the New York Stock Exchange under SNAP , is also one of the few new growth opportunities

The number of daily active Snapchat users rose from 238 to 249 million within three months. The trend that this growth no longer comes from the largest markets of the USA and Europe established itself. In North America, the daily number of users stagnated at 90 million. In the Europe region, where Snap also includes users from Russia and Turkey, it grew from 71 to 72 million.

Bottom line, Snap was still in the red of just under $ 200 million - after losing a good $ 227 million a year earlier. The losses continue to be due, among other things, to the way in which Snap stock compensation is posted on the balance sheet.

Snapchat was originally primarily known for images that disappear on their own, but is now increasingly trying to establish itself as a platform for media content. Among other things, sports content has recently become much more popular.

Snap also relies heavily on so-called augmented reality (AR), in which digital content is inserted into the real environment on the screen. On the one hand, this includes fun functions on Snapchat, such as the possibility of missing mustaches or cat ears. At the same time, there is potentially big business in this, if users can try out clothes, shoes, glasses or cosmetic tones. Snap is increasingly focusing on this, especially in the Corona crisis, in which users do more things from home.

investors react enthusiastically, the Snap share ignites a fireworks display in the aftermath and gains 24.01 percent to 35.28 US dollars on the NYSE. VENICE (dpa-AFX)

Fresenius confirms forecast after robust 3rd quarter - Fresenius share still lower .
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