Snap Inc reported first-quarter 2021 earnings that topped the consensus
In the quarter, the EPS breakeven compared to the 6 cents loss
expected. Revenue also exceeded the $743.8 million estimated, the figures
coming in at $770 million. The number of daily active users (DAUs) reached 280
million for the quarter, surpassing the 274.62 million touted.
CEO Evan Spiegel revealed that Snap’s Android user base on
now larger than the iOS
one, calling the expansion “a critical milestone that reflects the long-term
value of the investment we made to rebuild our Android application.”
For the future, Snap expects a YoY growth
of 80% - 85% in the second quarter, significantly higher than the 60% increase
reported in Q1. Also, the number of DAUs is seen at 290 million.
After the news hit the wires, Snapchat stock price went up
Sources: cnbc.com, Investopedia.com
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