Snap Inc. (SNAP, Financial) experienced a significant stock movement with a 5.00% increase in its share price, reaching $12.40 per share. The trading volume was notable at 18.97 million shares, with a turnover rate of 1.13% and a volatility of 4.53%.
In its recent financial results, Snap Inc. reported a revenue of $1.373 billion, a net loss of $153 million, and an earnings per share (EPS) of -$0.09. Despite the negative earnings, the company maintained a gross profit of $696 million with a price-to-earnings (P/E) ratio of -21.37.
Analysts' ratings are mixed, with 24% recommending a buy, 69% advising to hold, and 7% suggesting a sell. The internet information services sector, where Snap operates, saw an overall increase of 2.92%. Notable performers in the sector included Zillow Group, Inc., Leafly Holdings, Inc., and Match Group, Inc. Highly active stocks such as Trump Media & Technology Group and Upwork Inc. also captured investor attention.
Snap Inc. is renowned for its popular social networking app, Snapchat, which boasted over 400 million daily active users by the end of 2023. The company's revenue is predominantly generated from advertising, with North America contributing to approximately 65% of its sales despite having only a quarter of its user base in the region.
