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Snap reports q1 earnings analysts eye user growth



Snap Inc (SNAP), the parent company of Snapchat, reported Tuesday that it was slashed, beating Wall Street's expectations and sending the stock on a tear.

Revenues were $ 320.4 million, compared with $ 230.7 million in the first quarter of 2018. Analysts said the photo sharing app to post a 12 cent loss on revenues of $ 307.44 million.

The stock jumps by nearly 10% in after-hours trading, after a big rally added 4% during the trading day. Snap's stock closed at the session at $ 11.99.

In the wake of an Android application update, Wall Street is expecting to see the number of Snapchat users.

"The new app is 25% smaller, opens 20% faster on […] (19659007) "On lower-performing devices, this resulted in a 6% increase in the number of users sending snaps within the first week of upgrading" The new Android platform, Snap added.

Earlier Tuesday, Twitter (TWTR) – Wall Street's expectations and highlighted big gains in daily users, a key metric watched by analysts. [19659009FortheupcomingquarterSnapsaiditexpectsrevenuetorisetobetween$335millionand$360millionrepresentinggrowthof28%to37%fromtheyear-agoperiod

Calling Snapchat "a scarce asset that offers advertisers access to a coveted younger demographic, "analysts at Credit Suisse on Tuesday recommend investing the stock with a target of $ 13 per share.


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