Snap's first-quarter revenue and user growth outpaces expectations

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Snap's first-quarter revenue and user growth outpaces expectations

Snap reported fiscal first quarter results that exceeded expectations, reflecting still-strong revenue and user growthHowever, the adjusted EBITDA forecast for the current quarter came in weaker than expected.After the report, shares fell 3.5% in late trading.Here are the main metrics of Snap's report Thursday evening, as compiled by BloombergWhat Is a good, important reason for me to come back here.Snap posted a top-line increase of 66% during the first quarter, accelerating fromThe company also expected an unexpected breakeven in adjusted earnings per share, while a lossWe started the year 2021 by delivering our highest annual profit and daily active user growth ratesThe strength of our business underscores our relentless focus on product innovation and is a testament toSnap forecasted for the current quarter an adjusted loss of between $20 million and breakeven,Like many other social media platforms, Snapchat, the parent of the disappearing image sharing app SnapchatSnapchatDaily active users increased in every quarter in 2020 between 17% and 22% year-over-Snap grew its user base by another 22% in the first three months of 2021,And Snap has remained one of its most profitable cohorts — teen users.Between mid-February and March this year, Snapchat remained the most popular social media platformAt the same time, however, investors were rolled back to being particularly attunedThe first quarter results from Netflix earlier this week served as one example of a media company alreadyThe month of April should be high growth for the Online media sector, and the key question forHe added that we continue to be constructive on Snap's innovative products, management execution and However, Snap also has a reopening trade angle to its business, given thatShares of Snap have risen 14% for the year-to-date through Wednesday This post is breaking.Check back for updates.Emily McCormick is a reporter for Yahoo Finance.Follow her on Twitter : emily McckCharlie Munger on Robinhood and GameStop frenzy: It'None Charlie Munger says Amazon says '' has one thing that Costco does not haveNone In pandemic's wake: economists could last for several yearsCredit Suisse will increase the S&P 500 price target to 4,200 in 2021 with moreWhat happened in the economy in 2020?None These tech jobs may disappear in the face of automation.

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