Snap Inc.'s share price soared more than 26 percent to as high as $17.80 a share in after-hours trading Tues., Feb. 6 after the Snapchat developer posted revenue for the quarter ended December 31 that beat stock analysts' expectations.
Users - the thing most investors care about - were also way up for Snapchat, with the company adding 9 million daily users to hit 187 million. Snap lost $443 million last quarter, nearly the same amount it lost in Q2 and up considerably from the $124 million it lost in Q3 the year prior.
Instagram is also wildly popular with young mobile users. "We redesigned the Snapchat application, transitioned our Snap Ad business to an auction model, and made changes to our team to improve productivity and collaboration". Then, the company fell out of favor on Wall Street, hit by a slew of analyst downgrades. It was Snap's fourth quarterly earnings as a public company. Finally, Cowen lowered Snap from a "market perform" rating to an "underperform" rating and dropped their target price for the stock from $12.00 to $11.00 in a research report on Thursday, January 4th.
The silver lining in a hard 12-month period for Snap is that it continues to grow both users and revenue despite Facebook's ruthless attempts to demolish it. Facebook's copies have certainly hurt the company, but they have not killed it yet.
Spider with a whippy tail found in preserved amber
The species is being called Chimerarachne , a riff on Chimera , a fire-breathing hybrid creature found in Greek mythology. Luckily for everyone who hates spiders, these new animals were not very big according to the researchers.
Analysts have been paying close attention to Snap's user growth, which has slowed since the company went public in March 2017.
However, three months later, that redesign has still not rolled out widely, and investors will be looking for answers as to what's taking so long. In the new version, users' Discover Stories and friends' stories will reportedly be separated, which means there will be fewer chances for curious users to click on publishers' content, which could further hurt Snap's advertising efforts.
More recently, Snap released a new in-app merchandise store as it continues its experiments to see what users are willing to pay for. Adjusted EBITDA was a loss of $158.9 million, compared to the adjusted EBITDA loss of $152.3 million in the year-ago quarter.