Snap Set to Report Q2 as Wall Street Sees 14.5% Revenue Growth
Updated
Updated · Yahoo Finance · Aug 3
Snap Set to Report Q2 as Wall Street Sees 14.5% Revenue Growth
3 articles · Updated · Yahoo Finance · Aug 3
Summary
Monday after the close, Snap is due to report Q2 results with analysts expecting revenue to rise 14.5% from a year earlier.
That forecast marks an acceleration from 8.7% growth in the same quarter last year, and estimates have stayed largely unchanged over the past 30 days.
Snap last quarter posted $1.53 billion in revenue, up 12.1%, meeting sales expectations and beating EBITDA estimates, though it has missed Wall Street revenue targets multiple times over the past two years.
Peer results have set a high bar: Reddit posted 61.1% revenue growth and Meta 28%, both above estimates, even as their shares fell 21.8% and 7.9% after reporting.
Snap shares were flat over the past month versus a 4.2% average decline for consumer internet stocks, and the stock trades at $4.73 against a $7.26 average analyst target.