SNAP - Snap: Massive Breakout After Blowout Q1 Earnings

2024-04-27 09:58:51 ET

Summary

• Snap reported very impressive earnings for Q1, with double-digit top line momentum and improving EBITDA.
• The company's paid subscription service, Snapchat+, showed consistent growth, adding 2 million new paid subscribers in the last quarter.
• Snap's outlook for Q2 is favorable, with potential year-over-year revenue growth of up to 18% and positive adjusted EBITDA.
• Shares have a ton of revaluation potential.

SNAP ( SNAP ) submitted a solid earnings sheet for the first fiscal quarter on Thursday after the market closed that included double-digit top line momentum, improving monetization and consistent growth for the company’s paid subscription service Snapchat+. Snap also beat estimates and submitted a very strong outlook for the second fiscal quarter… which caused shares of the social media company to take off after earnings and surge 25%. Since shares of Snap have not yet fully recovered from the Q4’23 earnings-related drop-off, I believe the social media company continues to make an excellent value proposition for growth investors!...

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