Ticker Bullets | SNAP 4Q17 Takeaways

02/06/18 05:06PM EST

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.  

Ticker Bullets | SNAP 4Q17 Takeaways - SNAP 4Q17 vs. TWTR
Ticker Bullets | SNAP 4Q17 Takeaways - SNAP ex Olympics 4Q17

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

Hesham Shaaban, CFA
Managing Director


@HedgeyeInternet 

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