"Additionally, the fourth quarter saw significantly more new Android users as a percentage of net additional users than any other quarter in our history", Spiegel said in the prepared remarks. The retention rate of new Snapchat users on Android increased by almost 20 percent compared to the year prior, according to prepared remarks.
Shares traded at $17.73 after the bell, up 26 per cent after trading even higher earlier. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Andrew Vollero sold 70,566 shares of the stock in a transaction on Monday, December 18th.
That now stands at 14.3% of outstanding shares sold short. The disclosure for this sale can be found here.
While Snap made significant gains in Q4 - the results impressed investors, sending the company's stock soaring to heights it hasn't seen in a while - it's still unclear whether the social app can become a true alternative to Facebook and Google as a digital advertising giant in the months and years to come.
Media coverage about Snap (NYSE:SNAP) has been trending somewhat negative on Wednesday, Accern Sentiment reports.
The positive earnings report is a bright spot amid a year of tough moments for Snap, which has spent much of its time on the public markets trading below its IPO price. After that, you'll stop receiving push notifications when they post a new snap without the awkwardness associated with removing them from your friends list entirely.
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Speaking on Nova FM, Hemsworth admitted that the people making the ads weren't immune to the appeal of taking the notion further. Unlike most Super Bowl ads, today's commercial is just the beginning of Tourism Australia's 2018 marketing push.
The company also provides a suite of content tools for partners to build, edit, and publish snaps and attachments based on editorial content; and Spectacles, which are sunglasses that capture video from a human perspective. Snap noted that the loss was inflated by the $2.6bn in stock-based expenses it had to pay out in its first year on the market. Insiders sold 3,513,592 shares of company stock worth $45,994,369 over the last quarter. BidaskClub cut Snap from a "hold" rating to a "sell" rating in a research note on Thursday, October 26th.
FBN Securities analyst Shebly Seyrafi raised his price target on Snap to 18 from 15 and maintained a sector perform rating. Snap has struggled with DAU growth since going public past year. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.17.
For fiscal 2018, New Relic said it expects revenue between $351.6 million and $353.1 million, up 33 percent to 34 percent from the previous year. Snap had a negative return on equity of 107.36% and a negative net margin of 463.16%.
If the prospect of losing $100m a month doesn't seem like a sound business strategy, you're obviously not a Snap investor.
Several other brokerages have also recently issued reports on SNAP. The new version has already launched to 40 million users and will release worldwide in the first quarter, the company said in the call.