Snap shares skyrocket on first earnings beat with revived user growth

Snapchat is starting to turn things around, boosting its sluggish user growth rate and beating Wall Street’s expectations for the first time with today’s blockbuster Q4 2017 earnings report.

It added 8.9 million daily active users, to reach 187 million, with a quarter-over-quarter growth rate of 5.05 percent percent in Q4, compared to 2.9 percent in Q3. That translates to a DAU growth of 18 percent year-over-year, compared to Facebook’s 14 percent. Revenue was $285.7 million, up 72 percent year-over-year, with earnings per share of -$0.13 adjusted compared to estimates of $253 million and a -$0.16 adjusted.

The source of its growth? After years of neglect, Snapchat won in the developing world.

Snap lost $350 million compared to $440 million last quarter as operating expenses…

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