Snap stock soars following beat on revenue, earnings and daily active users

Back on overtime SNAP earnings, Meantime, our Al Julia Boorstin has those numbers that stock up more than 20% overtime. Yeah, that stock is shooting higher after the company beat on both the top and bottom lines, reporting earnings of $0.03 per share rather than the $0.05 per share loss that analysts had been anticipating. Revenues of 1.19 billion coming in ahead of estimates of 1.12 billion in revenue. That is growth of 21% in the quarter. It’s a serious acceleration from the 5% revenue growth. That Snap showed in the fourth quarter. Now for the first time, Snap is giving a full year operating expense outlook, guiding to OpEx for the full year between 2.425 and $2.525 billion. The company also reporting that its daily active users grew faster than expected, 10% to 422 million and Snap hit 9 million subscribers for Snapchat Plus Snap also giving some official guidance for the second quarter, all of it coming in ahead of expectations guiding to revenues. With between 15% and 18% growth in Q2, that’s like ahead of the consensus estimate, also guiding to adjusted earnings of between 15 and $45 million, well ahead of the 15 and a half million consensus estimate, also guiding to daily active users, a million ahead of expectations. The company is saying it’s focusing on diversifying and also accelerating revenue growth. There’s going to be a lot to talk about here. I think that expense guidance is key, showing that they have some insight into what’s been going to be going on in terms of their costs in the coming year. Now we’re going to be talking about all this and more with Snap CEO Evan Spiegel. We have an exclusive interview with him tomorrow morning in Money Movers. Back over to you. All right, we’ll definitely TuneIn, Julia, Boris and thank you. Shares are up 25% right now, Kevin. Here’s my big take away. Whether it’s Alphabet, which is shooting higher today, whether it’s Snap, which is breaking a string of disappointing quarters now with these results, or even meta yesterday this was overshadowed by the spending and the guidance picture. Digital advertising is doing well. Yeah, absolutely. And digital advertising will be key for these companies bottom lines going forward. I can’t reiterate enough, Morgan, how important technology is for this earnings season. As it stands right now. According to facts that the S&P 500 is only expected to grow earnings by 1/2 of 1% this quarter, yet the technology sector is expected to grow by 20% year over year. We need these companies that continue to drive earnings forward because they’re the rising tide that will lift up. The rest of the market due to so many individual investors and so many fund managers holding technology names. Specifically those mag Seven names.