Snap (SNAP) Reports In-Line Q1 EPS, Revenues Miss

Snap (NYSE: SNAP) reported Q1 EPS of ($0.17), in-line with the analyst estimate of ($0.17). Revenue for the quarter came in at $230.7 million versus the consensus estimate of $243.55 million.

• Daily Active Users (DAU)(1) grew from 166 million in Q1 2017 to 191 million in Q1 2018, an increase of 15% year-over-year. DAUs increased 2% quarter-over-quarter, from 187 million in Q4 2017.
• Revenue was $230.7 million in Q1 2018, up 54% year-over-year driven by growth in Snap Ads, and down 19% sequentially, primarily due to seasonality and our redesign.
• Average revenue per user (ARPU)(2) was $1.21 in Q1 2018, up 34% year-over-year and down 21% sequentially. Cost of revenue per user (CoRPU)(3) was $1.03 in Q1 2018, up 5% year-over-year and 1% sequentially.
• Adjusted EBITDA loss was $(217.9) million in Q1 2018, an increase of 16% year-over-year and 37% sequentially.
• Cash and marketable securities were $1.8 billion at March 31, 2018. Cash management reduced cash burn by 13% sequentially, to $222 million. Capital expenditures increased to $36.3 million in Q1 2018 compared to $18.0 million in Q1 2017 and $21.2 million in Q4 2017.
• For earnings history and earnings-related data on Snap (SNAP) click here.

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