{"id":94978,"date":"2020-10-21T17:07:41","date_gmt":"2020-10-21T14:07:41","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/snap-shares-soar-20-percent-amid-facebook-tiktok-struggles\/"},"modified":"2020-10-21T17:07:41","modified_gmt":"2020-10-21T14:07:41","slug":"snap-shares-soar-20-percent-amid-facebook-tiktok-struggles","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/snap-shares-soar-20-percent-amid-facebook-tiktok-struggles\/","title":{"rendered":"#Snap shares soar 20 percent amid Facebook, TikTok struggles"},"content":{"rendered":"

“#Snap shares soar 20 percent amid Facebook<\/a>, TikTok struggles<\/strong>”
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\n Investors sent shares of Snapchat\u2019s parent company up nearly 30 percent on Wednesday after it said that advertisers have been snapp<\/a>ing out of their coronavirus-induced comas and flocking to the social media network famous for its funny face filters and disappearing photos.<\/p>\n

The Los Angeles-based Snap reported a 52 percent increase in year-over-year revenue for the quarter that ended in September to $679 million, blowing away analysts\u2019 forecasts for $555.9 million.<\/p>\n

The eye-popping results had Wall Street abuzz about whether the social media company popular with teens benefited in part from the woes of its competitors like Facebook and TikTok.<\/p>\n

\u201cWhen the [ad] wave hit and when you had the TikTok and Facebook controversies, I think a disproportionate part of that wave went to Snap,\u201d CFRA Research\u2019s John Freeman said.<\/p>\n

Snapchat did little to dispel questions that it\u2019s been stealing ad dollars from troubled rivals with a statement saying that it saw advertisers last quarter looking to spend their money on platforms that \u201cshare their corporate values.\u201d<\/p>\n

That appeared to be a not-so-veiled reference to Facebook\u2019s content moderation practices during the nationwide George Floyd protests, which led to an advertising boycott. Snapchat rival TikTok, meanwhile, has been struggling with a potential ban by the Trump administration amid concerns that it shares users\u2019 data with government officials in China, where its parent company is based.<\/p>\n

Shares of Snap closed at an all time high of $35.50 after skyrocketing 28.3 percent.<\/p>\n

But investors also bought stock in Twitter, Google and even Facebook up on growing signs that ad spending may be coming back to life following months of pullback due to the coronavirus shutdowns.<\/p>\n

\u201cYou saw the [ad] money pile up in the second quarter,\u201d Freeman said. \u201cAnd in the third quarter a lot of those dollars that had previously been allocated to radio stations and news<\/a>papers and TV were spent digitally with Snap and the like.\u201d<\/p>\n

Shares of Facebook closed up 4 percent, or $11.17 a share, to $278.73, while Twitter ended the day higher 8.4 percent, or $3.89 a share, to $50.24. Google, despite a major antitrust case hanging over its head, rose 2.4 percent, or $37.38 a share, to $1,593.31 a share.<\/p>\n

The company led by Evan Spiegel, who is married to model Miranda Kerr, predicted that its strong growth will continue through the fall, forecasting 257 million DAUs next quarter, exceeding the Street\u2019s 249.8 million estimate.<\/p>\n

For the quarter ended in September, Snapchat\u2019s daily active user numbers \u2014 a closely watched metric among tech analysts \u2014 surged 18 percent to 249 million, blowing past Wall Street\u2019s forecast for 244 million DAUs.<\/p>\n

Average revenue per user was $2.73, up 28 percent from the year-go quarter.<\/p>\n

Snap said current-quarter revenue could grow between 47 percent to 50 percent over the year-ago period, but cautioned that it was unclear how the pandemic would affect year-end holiday advertising.<\/p>\n

\u201cI wouldn\u2019t be surprised if [that happened],\u201d Freeman said. \u201cIt\u2019s definitely within the cone of plausible outcomes. And that wasn\u2019t in my cone three days ago.\u201d<\/p>\n

With Post wires.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Snap shares soar 20 percent amid Facebook, TikTok struggles” Investors sent shares of Snapchat\u2019s parent company up nearly 30 percent on Wednesday after it said that advertisers have been snapping out of their coronavirus-induced comas and flocking to the social media network famous for its funny face filters and disappearing photos. The Los Angeles-based Snap…<\/p>\n","protected":false},"author":1,"featured_media":94979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/10\/Snap-Inc.-Logo.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[76551,70237,4974,76705,71741,47912],"class_list":["post-94978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-10-21-20","tag-corporate-earnings","tag-facebook","tag-snap-inc","tag-snapchat","tag-tiktok"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/94978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=94978"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/94978\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/94979"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=94978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=94978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=94978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}