Investors were thrilled with the outcome, sending Snap stock sky rocketing more than 25 percent in after-hours trading.
Snap added 8.9 million daily active users, bringing the total to 187 million.
Snap generated some $285.69 million in revenue during the quarter ending December 31, compared to $165.68 million during the same quarter a year before.
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A group of Kiwis caught up in the magnitude-6.4 Taiwan natural disaster ran from their hostel and straight for higher ground. We dare not go back home now. "I wouldn't be surprised for there to be a number of aftershocks in the next couple of days".
Snap (SNAP +1%) reports earnings after the close with an eye on the company's recent redesign, and whether it can show it's making up ground against Instagram.
Snapchat has finally made investor concerns disappear. They had not traded above Snap's initial public offering price of $17 since July 10. That would also put Snap's yearly sales at $793 million, nearly double the $404 million it brought in in 2016. The company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.17. Analysts had been expecting losses of 14 cents per share on $252.7 million in revenue.
Chief executive Evan Spiegel said Snap had executed its 2017 plan to improve quality, performance and automation well. Quarter-on-quarter growth was 5.05%, compared to 2.9% in Q3. The retention rate of new Snapchat users on Android increased by almost 20 percent compared to the year prior, according to prepared remarks. Snap's revenue a year ago grew about 104 percent to $824.9 million. The company's stock chart Tuesday afternoon looked similar to the trajectory of Elon Musk's SpaceX rocket, launched into outer space just minutes before Snap reported - straight up. However, much like Twitter before it, Snap has struggled to turn engaged users into cold hard cash.
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The woman Paul Ryan bragged about helping will only save $78 per year over the next eight years - so she will save $624 in total. Plenty of people - and companies - are seeing a meaningful change in their pay because of the tax bill.
Snap is now locked in a fight for its life with Facebook, which copied its marquee Stories feature - and the accompanying selfie filters and masks - and inserted them into all of its major products: Facebook, Instagram, WhatsApp and Messenger.
Advertising revenue rose 74 percent to $281 million, as companies advertised more in the key holiday quarter. Some of those costs are due to expensive cloud services deals with Google and Amazon that once signaled that Snap was bracing for an explosion of user growth.
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