Snap Inc is a technology and social media company that primarily focuses on visual communication and storytelling through its flagship platform, Snapchat
The app allows users to send photos and videos, known as "Snaps," that can be enhanced with filters, lenses, and various creative tools. In addition to personal interactions, Snap Inc offers features such as Stories, Discover channels, and augmented reality experiences, which engage users and advertisers alike. The company is dedicated to innovating in the realms of augmented reality and multimedia messaging, fostering a platform that prioritizes privacy and ephemeral content sharing. Through these services, Snap Inc aims to create a vibrant community and offer unique advertising solutions for brands looking to connect with a youthful, tech-savvy audience.
Markets traded higher today, with all major indexes closing near session highs — and erasing yesterday’s tariff panic, now that tariff plans have already been eased for our neighbors to the north and the south.
Social network Snapchat (NYSESNAP) reported Q4 CY2024 results exceeding the market’s revenue expectations, with sales up 14.4% year on year to $1.56 billion. Its non-GAAP profit of $0.16 per share was 13.6% above analysts’ consensus estimates.
The regular session of the US market on Tuesday is now over, but let's get a preview of the after-hours session and explore the top gainers and losers driving the post-market movements.
Snap (NYSESNAP) is a social media company known for its popular app, Snapchat, which allows users to send photos and videos that disappear after being viewed. Despite facing competition from platforms like TikTok, Snapchat has maintained a strong user base. The company is currently navigating a challenging market environment, with its shares experiencing a 13% decline since December.
Meta (META) reports Q4 earnings. CEO Mark Zuckerberg joins Business Roundtable. Meta stock is up 69.23% Y/Y and riding a bullish wave ahead of earnings.
Snap (NYSESNAP), the parent company of the widely-used social media platform Snapchat, is currently facing an investigation by the Federal Trade Commission (“FTC”). The probe centers around Snap’s AI-powered chatbot, My AI, which is integrated within Snapchat and has raised concerns about potential risks to young users. This has led to a complaint being referred to the Department of Justice, marking a significant development in the ongoing scrutiny of AI technologies and their impact on user safety.
Samsung and Google are teaming up to develop augmented reality glasses, aiming to compete with Meta and Apple in the growing AR market, with plans to leverage third-party developers for content and a potential launch by 2026.
