Snap Inc. (NYSE:SNAP) – Snap Reports Big Q1 Sales Beat, DAUs Up 20%

Snap (NYSE: SNAP) reported quarterly losses of 8 cents per share on Tuesday, which missed the analyst consensus estimate by 1 cent. This is a 20% increase over losses of 10 cents per share from the same period last year.

The company reported quarterly sales of $462 million, which beat the analyst consensus estimate of $431.430 million by 7.09%. This is a 44.18% increase over sales of $320.426 million the same period last year.

See Also: Here’s How Much Investing $100 In The 2017 Snap IPO Would Be Worth Today

The company also reported daily active users were up 20% year-over-year to 228 million.

Snap says the total daily time spent by Snapchatters watching discover content increased by over 35% year-over-year in the first-quarter.

Snap shares were trading higher by 16.5% at $14.50 in Tuesday’s after-hours session. The stock has a 52-week high of $19.76 and a 52-week low of $7.89.

© 2020 The Millennial The Millennial Bridge does not did not provide investment advice. All rights reserved.

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