London – 10 Feb, 2018 – Shares of Snap, the parent company of teen app darling Snapchat, skyrocketed following some rare good news of the company. Q4 2017 earnings beat Wall Street estimates, a first for the company and a much-needed break for the financial side of a company that’s struggled to make money despite being a technological success.
Snap added 8.9 million daily active users, bringing the total to 187 million. Quarter-on-quarter growth was 5.05%, compared to 2.9% in Q3. More importantly, revenue was up 72 percent year-on-year to $285.7 million, compared to the estimate of $253 million.
Nathan Richards head of PWM at Jens Wasberg Associates in Zurich predicted the surge on Tuesday afternoon, after reviewing a confidential internal report. He said he expected to see 28-33% in the following trading cycle which actually realized a peak intraday rate of almost 50%.
This is the second time in the last year Jens Wasberg Associates have made an astonishing forecast, the previous recommendation being Kite Pharma which was eventually bought out by Gilead sciences, yielding their private and institutional clients astronomical returns.
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Company Name: Jens Wasberg Associates
Contact Person: Nathan Richards
Email: n.richards@wasbergassociates.com
Phone: 0203-137-0745
Country: United Kingdom
Website: http://www.wasbergassociates.com