What To Expect From Snap’s (SNAP) Q4 Earnings
Stock Story
Published Feb 05, 2024 02:00AM ET
Updated Feb 05, 2024 06:33AM ET
What To Expect From Snap’s (SNAP) Q4 Earnings
Social network Snapchat (NYSE: SNAP) will be reporting results tomorrow after market hours. Here's what you need to know.
Last quarter Snap reported revenues of $1.19 billion, up 5.3% year on year, beating analyst revenue expectations by 7%. It was a strong quarter for the company, with a decent beat of analysts' revenue estimates and solid growth in its user base. The company reported 406 million daily active users, up 11.8% year on year.
Is Snap buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Snap's revenue to grow 6.1% year on year to $1.38 billion, improving on the flat year-over-year growth in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.06 per share.
The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing nine upward revisions over the last thirty days. The company missed Wall St's revenue estimates five times over the last two years.
Looking at Snap's peers in the consumer internet segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Meta (NASDAQ:META) delivered top-line growth of 24.7% year on year, beating analyst estimates by 2.4% and Netflix (NASDAQ:NFLX) reported revenues up 12.5% year on year, exceeding estimates by 1.4%. Meta traded up 8.3% on the results, and Netflix was up 11%.
Read the full analysis of Meta's and Netflix's results on StockStory.
Investors in the consumer internet segment have had steady hands going into the earnings, with the stocks up on average 0.3% over the last month. Snap is down 1.5% during the same time, and is heading into the earnings with analyst price target of $14.9, compared to share price of $17.1.
The author has no position in any of the stocks mentioned.
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