…Snap’s fourth quarter earnings were significantly higher than Wall Street expectations, with sales of $285.7 million, or a 72 percent increase over the same time a year ago, and a net loss of $350 million.
Well stick a tree up my butt and call me a Paddle Pop, Snap Inc didn’t lose as much money as everyone thought they would last quarter and investors are lapping it up. Perhaps our (my) continuing comments about its impending end are a little presumptuous?
They did still lose US$350m here, lets not gloss over that. It’s just they were expected to lose US$405m so Wall St sees that as a win.
The other actual positive for Snap is that their daily “Snaps sent” figures have trended up for the first time in a while. Is it enough to stem the flow?
Source: Snap stock soars on first ever better-than-expected earnings – The Verge