Snapchat just did something insane. It beat expectations

Snapchat just did something insane. It beat expectations

The company's stock shot up by more than 27 percent in after-hours trading.

Snap also added more users than expected, with daily active users rising almost 9m to 187m from the previous quarter. On average, analysts estimated $252.95 million in revenue and a loss of 16 cents a share. Snap still lost $350 million in just three months, although that's an improvement compared to the $440 million it lost in the quarter before.

"With our plans for user growth, augmented reality, and content in 2018, I have never been more excited about the future of our business". That indicates that Snap CEO Evan Spiegel's redesign of the Snapchat app, unveiled back in November and still in the progress of rolling out worldwide, may be helping the company reclaim some of its early-stage popularity surges that were damaged, in part, by Facebook's launch of Instagram Stories. Wall Street, however, is looking for the company to report revenue of $253 million, up 52% from Q4 2016. Wall Street expected Snap to add about 6 million daily users during the quarter.

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Spiegel said in prepared remarks that were released alongside today's earnings that "Our business really came together towards the end of a year ago". Revenue per user rose 46 percent from a year earlier to $1.53, while cost of revenue per user rose 5 percent to $1.02. Finally, Cowen lowered Snap from a "market perform" rating to an "underperform" rating and dropped their target price for the stock from $12.00 to $11.00 in a research report on Thursday, January 4th. Then it showed off that redesign to the media later that month. The sales boost represented a 72 percent year-over-year increase.

More recently, Snap released a new in-app merchandise store as it continues its experiments to see what users are willing to pay for.

Snap's (SNAP) revenue beat analyst forecasts for the first time since the messaging company went public almost a year ago, leading its shares to reverse a almost year-long decline. Adjusted EBITDA was a loss of $158.9 million, compared to the adjusted EBITDA loss of $152.3 million in the year-ago quarter.

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