Today’s Research Reports on Stocks to Watch: Twitter and Snap
NEW YORK, NY / ACCESSWIRE / October 26, 2018 / Twitter shares were exploding on strong quarterly results for the third quarter while shares of Snap were plummeting on a decrease in daily active users again.
RDI Initiates Coverage on:
Twitter, Inc.
https://www.rdinvesting.com/report/?ticker=TWTR
Snap Inc.
https://www.rdinvesting.com/report/?ticker=SNAP
Twitter, Inc. shares closed up nearly 15.5% on Thursday with about 79 million shares traded after reporting third quarter financial results ahead of the opening bell. The social media company reported earnings of 21 cents a share while analysts were only waiting for 14 cents a share. It was also double compared to the year ago period. Revenue at $758 million was a growth of 29% and beat the $702 million that analysts were expecting. Advertising revenue at $650 million was also higher than the $592 million that analysts were looking for. CEO Jack Dorsey discussed the company's decrease in web daily usage during the earnings call and said, "I wanted to start with our purpose. Our purpose is to serve the public conversation. And we have a singular objective within that purpose, which is around increasing health of the public conversation. As a reminder, health is a framework for us that allows us to think cohesively around abuse, misinformation, echo chambers and manipulation. And the first thing I wanted to highlight is, we continue to make really steady progress against some of the health initiatives that we're seeing, most notably this quarter around suspicious sign-ups. So we saw a 20% decrease since introducing some new techniques. We see a lot more spammy sign-ups prevalent on the web. And as we detailed in our Shareholder Letter, we've seen a decrease in web daily usage and the double-digit growth on mobile daily usage."
Access RDI’s Twitter, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=TWTR
Snap Inc. shares may have closed up about 6% on Thursday but they lost in after-hours trading after the company reported earnings and revealed a decline again in daily active users. It was the second quarter in a row of the company posting a decline in its daily active users. For the third quarter, the company saw daily active users at 186 million versus the estimate of 186.8 million by analysts. It was also a 1% decrease compared to the second quarter. Quarterly revenues of $298 million however was a record and beat the estimates of $283.36 million. The adjusted loss at 12 cents per share, was 2 cents better than consensus expectations of a loss of 14 cents per share. "We’re investing in long-term growth opportunities and driving operational efficiencies,” said Tim Stone, Snap CFO. “We achieved record revenue and strong bottom-line results this quarter and expect a record fourth quarter, as we continue to invest in innovation for our community and scale our business.”
Access RDI’s Snap Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=SNAP
Our Actionable Research on Twitter, Inc. (NYSE: TWTR) and Snap Inc. (NYSE: SNAP) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
