Snap Inc Class A

SNAP: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$94.00	Tddk	Dwjsqbfdt

Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization

Michael Hodel

Apr 26, 2024

No-moat Snap posted positive first-quarter results, improving on a difficult fourth quarter on the back of improved user monetization. Revenue per user increased year over year for the first time since early 2022, reflecting the strength in the broader advertising market and Snap’s efforts to revive growth. We maintain our $14 per share fair value estimate.

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