5 Stocks Catching Investors’ Eyes After Earnings Reports

In this article, we discuss the 5 stocks catching investors’ eyes after earnings reports. If you want to read our detailed analysis of these companies, go directly to the 11 Stocks Catching Investors’ Eyes After Earnings Reports.

5. Snap Inc. (NYSE:SNAP)

Number of Hedge Fund Holders: 55

Shares of Snap Inc. (NYSE:SNAP) closed higher on Friday, April 22, 2022, despite announcing weak financial results for the first quarter. The social media firm reported a loss of 2 cents per share, contrary to analysts’ average estimate for earnings of a penny per share.

Revenue for the quarter jumped 38 percent on a year-over-year basis to $1.06 billion, missing expectations of $1.07 billion. On the bright side, Snap Inc. (NYSE:SNAP) reported that its daily active users in the quarter rose 18 percent versus last year to 332 million, beating expectations of 330 million.

Snap Inc. (NYSE:SNAP) also issued its sales outlook for the current quarter. The company expects its Q2 revenue to grow in the range of 20 – 25 percent over the comparable period of 2021.

Speaking on the results, CEO Evan Spiegel said:

“We remain focused on providing value for our growing community, delivering ROI for our advertising partners, and investing against our enormous opportunity in augmented reality. We’re excited to share many new products and services at our annual Snap Partner Summit next week.”