Jul 23, 2019

Snap stock price up after beating Q2 analyst expectations

Photo: Thomas Trutschel/Photothek via Getty Images

Snap's stock price shot up more than 6% on Tuesday after the company beat analyst expectations, posting $388.02 million in revenue.

By the numbers: The gains surprised investors, as the stock was expected to post at $359.56 million, and $0.06 loss per share (vs. a $0.10 expected loss). Snap also added 13 million new daily active users this quarter.

Why it matters: Snap's share price has been steadily climbing since hitting its lowest price at $4.99 last December. The company seeks to make a comeback from stumbles like a mobile app redesign that failed to impress.

Go deeper: Snap shares soar after better-than-expected Q1 results

Go deeper

Snapchat snaps back

Illustration: Axios Visuals

Snapchat's parent company has had a bumpy ride through a series of product and corporate setbacks in 2018. But now it's slowly making a comeback.

Why it matters: Snap's story is yet another example of the harsh realities of going public and facing comparisons to expansive rivals—in this case, Facebook. Now that Snap is regaining momentum, investors' enthusiasm for the company's long-term potential is also creeping back.

Go deeperArrowJul 24, 2019

Snap prices $1.1 billion of convertible notes

Illustration: Axios Visuals

Snap priced $1.1 billion of convertible notes, due in 2026. This is slightly up-sized from a $1 billion offering size, and expectations are that it will close by Friday.

Why it matters: It reflects how Snap has become tech's comeback kid. The "camera company" was valued at $29 billion in its first day of post-IPO trading in early 2017 — or $26.05 per share — before bottoming out at less than $5 per share at year-end 2018. Last week it briefly regained its $17 IPO price on better-than-expected Q2 earnings, and the $1.1 billion infusion should help it invest more in both content and features.

Go deeper: Snapchat snaps back

Uber stock price drops after missed Q2 expectations

Photo: Jaap Arriens/NurPhoto via Getty Images

Uber's stock price dropped by more than 12% after its Q2 revenue and losses missed analyst expectations.