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Snapchat smashes revenue estimates as users and messages soar in lockdown

WorldNews Wednesday, 21 October 2020
Snapchat smashes revenue estimates as users and messages soar in lockdownSnap has reported third-quarter results late Tuesday that beat revenue estimates and earnings, driven by a big jump in users and similarly large jump in the number of messages sent. The social media company reported an adjusted profit of 1-cent per share on revenue of $678 million. Wall Street expected an adjusted loss of 5 cents on revenue of $550.5 million. Revenue jumped 52% from the year-ago period. Revenue in the three months ended in September rose by 52%, year over year, to $678.7 million, yielding EPS of a penny per share. That compares to the average analyst estimate for $551 million and 5 cents per share. Snap’s user count, on a daily average basis,...
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News video: Snap shares zoom 34% to record high

Snap shares zoom 34% to record high 01:21

Shares of Snap jumped by more than a third Wednesday morning after the Snapchat messaging app owner beat user growth and revenue forecasts as more people signed up to chat with friends and family during the coronavirus pandemic. Fred Katayama reports.

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USATODAY.com

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The Verge
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Nasdaq closes at record high as investors bank on vaccine

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USATODAY.com
Tesla's Market Value Tops $500 Billion [Video]

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Credit: Wochit News    Duration: 00:39Published

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