Ticker Bullets | SNAP 4Q17 Takeaways

KEY POINTS

1. Seasonal Tailwind: Consensus was only looking for 22% q/q revenue growth, which was well below anything TWTR has ever put up pre-restructuring for 4Q.  SNAP's 4Q17 sequential growth was inline with TWTR's historical norms.
2. Fade the Acceleration: Revenue growth accelerated to 72% vs. 62% on a y/y basis.  However, the 3Q16 Olympic tailwind suppressed 3Q17 revenue growth by 25 percentage points, so not really an acceleration.  
   
   

Let us know if you have any questions or would like to discuss in more detail.

Hesham Shaaban, CFA
Managing Director


@HedgeyeInternet