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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook Inc    FB

FACEBOOK INC

(FB)
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Delayed Quote. Delayed Nasdaq - 11/27 01:00:00 pm
277.81 USD   +0.81%
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Facebook : Snap beats analyst estimates for user growth, revenue

10/20/2020 | 04:10pm EST

Oct 20 (Reuters) - Snap Inc, owner of the single-view messaging app Snapchat, on Tuesday beat Wall Street's third-quarter forecasts for user growth and revenue as more people signed up to chat with friends and family during the coronavirus pandemic.

Daily active users (DAUs), a widely watched metric by investors and advertisers, rose 18% year-over-year to 249 million in the quarter ended Sept. 30, the company said in a statement. Analysts had expected 244 million, according to IBES data from Refinitiv.

Revenue, which Snap earns mainly from selling ads on the app, jumped 52% to $679 million, widely beating analysts' consensus estimate of $555.9 million.

Snap has positioned itself as a safe place for brands to advertise because it focuses on one-on-one messages which disappear once they are read.

That reputation served Snap well in the third quarter, when over 1,000 advertisers boycotted larger rival Facebook Inc for the month of July in response to issues of hate speech on the platform, and as popular short-form video app TikTok faced the possibility of a U.S. ban over national security concerns.

It opened an opportunity for Snap as companies reviewed their ad spending, and helped contribute to revenue growth, said Jeremi Gorman, Snap's chief business officer, in prepared remarks for an earnings call with analysts.

Snap's net loss narrowed to $199.8 million, or 14 cents per share, from $227.37 million, or 16 cents per share, a year earlier.

The company said it expected continued momentum in user growth and forecast about 257 million daily active users in the fourth quarter.

Snap said current-quarter revenue could grow between 47% to 50% over the year-ago period, but cautioned that it was unclear how the pandemic would affect year-end holiday advertising.

(Reporting by Sheila Dang; Editing by Richard Chang)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
FACEBOOK INC 0.81% 277.81 Delayed Quote.34.27%
SNAP INC. 1.03% 46.03 Delayed Quote.179.00%
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Financials (USD)
Sales 2020 83 587 M - -
Net income 2020 26 870 M - -
Net cash 2020 63 906 M - -
P/E ratio 2020 29,6x
Yield 2020 -
Capitalization 785 B 785 B -
EV / Sales 2020 8,63x
EV / Sales 2021 6,76x
Nbr of Employees 56 653
Free-Float 83,8%
Chart FACEBOOK INC
Duration : Period :
Facebook Inc Technical Analysis Chart | FB | US30303M1027 | MarketScreener
Technical analysis trends FACEBOOK INC
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 51
Average target price 315,73 $
Last Close Price 275,59 $
Spread / Highest target 36,1%
Spread / Average Target 14,6%
Spread / Lowest Target -56,5%
EPS Revisions
Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
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