Shares of Snap traded up more than 10% after reporting first quarter earnings today, but then faded during the earnings call.Financial Highlights
• Operating cash flow improved by $166 million to $(66) million in Q1 2019, compared to the prior year.
• Free Cash Flow improved by $190 million to $(78) million in Q1 2019, compared to the prior year.
• Common shares outstanding plus shares underlying stock-based awards totaled 1,544 million at March 31,
2019, compared with 1,457 million one year ago.
• Revenue increased 39% to $320 million in Q1 2019, compared to the prior year.
• Operating loss improved $76 million to $(316) million in Q1 2019, compared to the prior year.
• Net loss improved $75 million to $(310) million in Q1 2019, compared to the prior year.
• Adjusted EBITDA loss improved $94 million to $(123) million in Q1 2019, compared to the prior year.
“In the first quarter we delivered strong results across our business with growth in daily active users and revenue,” said Evan Spiegel, CEO. “Our new Android application is available to everyone, with promising early results. This month we announced several new products that we believe will drive further engagement and monetization. As we look towards the future, we see many opportunities to increase our investments, and will continue to manage our business for long-term growth.”
Q2 2019 Outlook
• Revenue is expected to be between $335 million and $360 million, or grow between 28% and 37% compared to Q2 2018.
• Adjusted EBITDA is expected to be between $(150) million and $(125) million, compared to $(169) million in Q2 2018.
Read the full earnings report here: https://tinyurl.com/y3p9gwvt