close Thursday Snap Inc presented its earnings, which, for the first time in its
11-year corporate history, the company behind Snapchat had a quarterly profit.
fourth quarter of 2021, Snap Inc turned a profit using GAAP measures. Snap earned
$23 million in the quarter, compared with a loss of $113 million in the fourth
quarter of 2020.
quarterly revenue, meanwhile, grew 42% year over year to $1.3 billion.
Facebook, daily users on Snap Inc increased, by 24% from the year-ago quarter to
came out with quarterly earnings of $0.22 per share, beating the Consensus
Estimate of $0.09 per share.
“Snapchat is clearly not as prone to
the ‘TikTok effect’ as Meta,” said Insider Intelligence principal analyst Jasmine
Enberg, who noted much of the app’s growth came from India, where TikTok is
came amid a tumultuous week for social media stocks. Snap stock price was up
more than 20% in after-hours trading.
Exiting the trade before the earnings, when in decent profit, certainly paid off!
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