5/1, 10:18 PM (Source:
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Chart for: Snap Inc.

Snap reports revenue of $230M in Q1, up 54% YoY

American tech company Snap Inc. reported on Tuesday that its revenue for the first quarter of 2018 stood at $230 million, which is 54% more than the same period a year ago, primarily due to Snap Ads. On a quarterly basis, EPS fell 19%, due to the redesign of the app and seasonality, the release noted. Adjusted earnings per share were $0.17, beating estimates by a slight.

Snap reported a net loss of $285 million in the first three months of 2018, improving 83% from the same period in 2017 when it included a $2 billion stock-based compensation expense. Adjusted EBITDA was down 16% year over year in quarter one, totaling $217 million.

Daily Active Users (DAU) number rose 2% from the previous quarter, while it grew 15% annually to amount to 191 million in the last reported quarter. Average revenue per user (ARPU) was up 34% year over year, while falling 21% compared to the last quarter of 2017, to amount to $1.21.

The company's shares plunged over 15% in aftermarket trading shortly after the quarterly results were published.

Breaking the News / NI