Snap stock (NYSE:SNAP) was down more than 3% after hours on Thursday as the company reported its latest quarterly earnings results late in the day, which were ahead of what analysts were calling for on the profit front, while also coming in ahead of the mark on the revenue front.
The Snapchat parent company said that for its third quarter of fiscal 2018, it lost roughly 12 cents per share. The figure was narrower than the loss of 14 cents per share that analysts were calling for, according to a survey conducted by Refinitiv.
Snap added that it impressed on the revenue front as it brought in sales of about $298 million for the period, topping the $283.2 million that analysts polled by Refinitiv were calling for. Plus, the company’s global daily active users for its third quarter reached 186 million, which is slightly below the 186.1 million that the StreetAccount and FactSet forecasts called for.
The company added that its average revenue per user tallied up to $1.60 per share, which is ahead of the $1.52 per share that analysts polled by StreetAccount and FactSet projected.
SNAP stock gained about 5.9% during regular trading hours on Thursday in anticipation of the Snapchat parent company’s latest quarterly earnings results. An underwhelming quarter contributed to the company’s shares falling about 3.9% after the bell on the day.
