What a dramatic turnaround for our pick SNAP, as it reported a very strong earnings and user growth! It reported a revenue of $286 million in its fourth quarter, a 72% increase from a year earlier, thanks to strong user and advertising growth. The revenue number crushed analysts' estimate of $253 million. The company now has 187 million daily active users, surpassing analysts' estimates of 184 million!!
This resulted in the stock surging past 50% today! Congratulations!
We remain optimistic about SNAP and will continue to hold our position.
Stay tuned as our next recommendation is coming soon!