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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook    FB

FACEBOOK

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Delayed Quote. Delayed Nasdaq - 11/13 04:15:00 pm
193.19 USD   -0.66%
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Snap disappoints with fourth-quarter revenue guidance, sending shares down

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10/22/2019 | 06:35pm EST
FILE PHOTO: A woman stands in front of the logo of Snap Inc. on the floor of the New York Stock Exchange (NYSE) while waiting for Snap Inc. to post their IPO, in New York City

(Reuters) - Snap Inc on Tuesday forecast fourth-quarter revenue largely below Wall Street estimates, sending its shares down 5% in after-market trading.

The parent company of photo messaging app Snapchat estimated fourth-quarter revenue of $540 million (£418.99 million) to $560 million, the midpoint of which was below analysts' estimate of $555.4 million, according to IBES data from Refinitiv.

The outlook overshadowed Snap's third-quarter results released on Tuesday, which showed larger-than-expected growth in daily active users. Wall Street also glossed over Snap's estimate it would reach profitability in the fourth quarter, as measured by earnings before interest, tax, depreciation and amortization (EBITDA).

On a conference call with analysts, Snap Chief Financial Officer Derek Andersen said the company's peak advertising demand period, which runs between the Black Friday and December holidays, had one fewer week this year, and was reflected as a "headwind" in the guidance.

Snapchat, popularized by its photo visual effects which allow users to change gender in photos or add a dog filter over their face, had 210 million daily active users in the third quarter ended Sept. 30, up from 203 million in the prior quarter.

It had 186 million users in the year-ago quarter.

The number, a widely watched metric by investors and advertisers, was above analysts' average estimate of 206.6 million, according to IBES data from Refinitiv.

Snapchat faces competition from several other apps for the coveted younger demographic, including Facebook Inc Instagram and newer apps like TikTok, used to create and share short lip-sync, comedy and talent videos.

Investors are still cautious about Snap, given the company's tumultuous past and "irregular user-engagement record," said Haris Anwar, an analyst at financial markets platform Investing.com.

"A slight miss on expectations would be enough to hurt the stock and revive the old memories," he said.

Revenue, which the company largely makes by selling advertising on the app, jumped about 50% to $446.2 million in the third quarter and beat an average analyst estimate of $435.05 million.

Average revenue per user jumped 33% to $2.12 during the quarter from a year earlier.

In remarks released before the conference call with analysts, Snap Chief Executive Evan Spiegel said this year's growth has put the company "on a clear path to Q4 adjusted EBITDA profitability."

The company's net loss narrowed to $227.4 million, or 16 cents per share, from $325.1 million, or 25 cents per share, a year earlier.

Excluding items, Snap posted a loss of 4 cents per share in the quarter. Analysts had expected a loss of 5 cents per share.

(Reporting by Akanksha Rana in Bengaluru and Sheila Dang in New York; Editing by Shailesh Kuber, Richard Chang and Chris Reese)

By Sheila Dang and Akanksha Rana

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Financials (USD)
Sales 2019 70 463 M
EBIT 2019 24 555 M
Net income 2019 18 276 M
Finance 2019 52 949 M
Yield 2019 -
P/E ratio 2019 30,4x
P/E ratio 2020 21,4x
EV / Sales2019 7,07x
EV / Sales2020 5,60x
Capitalization 551 B
Chart FACEBOOK
Duration : Period :
Facebook Technical Analysis Chart | MarketScreener
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Technical analysis trends FACEBOOK
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 49
Average target price 235,29  $
Last Close Price 193,19  $
Spread / Highest target 39,8%
Spread / Average Target 21,8%
Spread / Lowest Target -37,9%
EPS Revisions
Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
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