Snap Rises 2.3% as Major US Indexes Finish Lower

Snap shares rose 2.3% to close at $5.34 in the latest trading session, while major US indexes fell. The S&P 500 lost 0.17%, the Dow dropped 0.26% and the Nasdaq declined 0.09%.

Ahead of the company’s upcoming earnings report, the Zacks consensus estimate calls for quarterly earnings of $0.16 per share and revenue of $1.72 billion. Those estimates represent increases of 166.67% and 14.33%, respectively, from the same quarter a year earlier.

For the full year, Zacks consensus estimates project earnings of $0.59 per share and revenue of $6.78 billion. The publisher says those figures would be up 78.79% and 14.35% from the prior year.

Zacks reported Snap’s forward price-to-earnings ratio at 8.9, compared with an average of 19.04 for its industry. Its price-to-earnings-growth ratio was 0.2, against an industry average of 1.11.