CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

Snap rallies above $17 IPO price after Q2 results beat estimates

The company responsible for social media app Snapchat, saw its share price rally above IPO levels on Wednesday after smashing earnings estimates in its second quarter.

Snap Inc saw its share price climb above its IPO price of $17 on Wednesday, after impressing investors by exceeding earnings expectations in its Q2 results.

Snap Inc. smashes Q2 earnings expectations

The company behind popular social media app Snapchat saw its revenue increase by 48% year-over-year to $388 million and its adjusted EBITDA improve by 56% year-over-year to $79 million in its second quarter, exceeding expectations.

It also saw its daily active users rise by 8% year-over-year to 203 million.

‘The growth in our community, engagement, and revenue is the result of several transitions we completed over the past 18 months,” Snap Inc. CEO Evan Spiegel said.

‘We look forward to building on our momentum and making significant ongoing progress in each of these areas,’ he added.

Practise trading Snap Inc and other tech stocks with an IG demo account.

Snap Inc. looks forward to a strong Q3

Looking ahead, the company is already expecting another strong quarterly performance in its third quarter, with revenue expected to be between $410 million and $435 million, compared to the $298 million it recorded in the same period last year.

However, the company is forecasting adjusted EBITDA to be between $85 million and $60 million, compared to the $138 million it secured in Q3 last year.


The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.

Be ready to act on ECB opportunities

Learn how the ECB’s monetary policy announcements affect interest rates and price stability ahead of its next meeting in September 2020.

  • How might the next meeting affect the markets?
  • What are the key rate decisions to watch?
  • Why is the Governing Council announcement important for traders?

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.