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Benzinga
Benzinga
Business
Akanksha Bakshi

Snap Shares See Volatile Afterhours Trading On Q1 Earnings Miss, Q2 Revenue Growth Outlook

Snap Inc (NYSE:SNAP) reported first-quarter revenue growth of 38% year-over-year to $1.06 billion, missing the consensus of $1.07 billion. Adjusted EPS was $(0.02), missing the consensus of $0.01.

SNAP’s daily active users increased 18% Y/Y to 332 million. ARPU was $3.20, an increase of 17% Y/Y. The user growth dipped below 20%.

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