Even with the spike from the earnings, shares are about $17, which was the initial offering price last March.
So, how did Snap fare during Q4? This exceeded the $252.9 million that was expected by analysts polled by Yahoo Finance, according to Forbes. Piper Jaffray Companies reaffirmed a "hold" rating on shares of Snap in a report on Wednesday, October 11th. Ameriprise Financial Inc. bought a new stake in shares of Snap during the 2nd quarter worth $278,000.
It is hoped that the redesign, which is still in the process of rolling out, will help the company scrape back some of the early-stage popularity that was knocked by Instagram Stories.
The retention rate of new Android users increased by almost 20% when compared to past year, meaning that the people who try Snapchat on Android are much more likely to stick around and become daily active users.
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England beat Russian Federation 47-0 and Papua New Guinea 27-0 before falling to South Africa in the pool decider. Fiji beat Wales 28-0, Spain 24-12 and Australia, winners of last weekend's Sydney tournament, 26-15.
Wall Street was disappointed in the meagre amount of new users that Q3 of 2017 brought, but this has significantly turned around for the final quarter of the year.
Snap continued the practice of not providing explicit guidance but did point out that despite business progress, growth should slow in the first quarter.
Snapchat added 8.9 million daily active users in the period, the biggest gain since the third quarter of 2016.
Over the last two years Snap has employed 2,400 people but Spiegel said that, while it was initially important to build its foundation of staff to keep up with the growth of the business, the plan was now to "unlock substantially more productivity", Geekwired noted.
Another change that likely led to a successful Q4 for Snap was a shift toward programmatic ad buying. "We are learning a lot while operating our automated advertising platform and we are constantly improving the way we sell and serve advertising".
Aaron Goldman, CMO, 4C Insights, commented on Snapchat's resurgence: "Snap benefited from some of the seasonality that's expected during the holidays as advertisers heavy up but also saw some new brands come in and test the platform as a place to engage hard-to-reach audiences".
Westpac Banking Corp boosted its position in Snap Inc (NYSE:SNAP) by 42.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC).