Snap (SNAP) Tops Q1 EPS by 29c, Offers Guidance

Snap (NYSE: SNAP) reported Q1 EPS of $0.03, $0.29 better than the analyst estimate of ($0.26). Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.12 billion.

GUIDANCE:

Snap sees Q2 2024 revenue of $1.23-1.26 billion, versus the consensus of $1.21 billion.

• As we enter Q2, we anticipate continued growth of our global community, and as a result, our Q2 guidance is built on the assumption that DAU will be approximately 431 million in Q2. We are focused on executing against our roadmap to deliver improvements to our DR advertising platform to drive improved results for our advertising partners and accelerate topline growth. Our Q2 guidance range for revenue is $1,225 million to $1,255 million, implying year-over-year revenue growth of 15% to 18%. Given the revenue range above, and our investment plans for the quarter ahead, we estimate that Adjusted EBITDA will be between $15 million and $45 million in Q2.

For earnings history and earnings-related data on Snap (SNAP) click here.

You May Also Be Interested In

• Synopsys upgraded at Piper Sandler on Intel foundry momentum, Apple opportunity
• Bernstein SocGen Reiterates Outperform Rating on Fervo Energy (FRVO)
• Bernstein SocGen Group Reiterates Outperform Rating on Hermes International (RMS:FP) (HESAY) after cautious commentary