SNAP Falls 20% on Disappointing Q3; Zillow, Planet Fitness Beat – November 7, 2017

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Snap Inc. (SNAP Free Report) shares fell off a table in the after-market following its disappointing quarterly top and bottom-line results. The smartphone app maker posted a one-cent beat to -14 cents per share, but revenues of $207.9 million was well below the $236.9 million analysts had been expecting. Daily active users (DAU) reached 178 million in the quarter, also lower than expectations of 182 million.

The company noted a 4% increase in daily snaps to 3.5 billion, and cited app redesign costs as part of the reason for the company’s sales miss in the quarter. Shares had fallen as much as 21% in late trading, but have gained a few points back in the minutes since then. For more info on SNAP’s earnings, click here.

Online real estate service Zillow Group Inc. (ZG Free Report) , on the other hand, beat both top and bottom-lines expectations in its most recently reported quarter: 19 cents per share beat the consenus estimate by 2 cents, while $282 million in sales topped the $277 million expected. Zillow also ratcheted up its top range of Q4 revenue guidance to $279 million, well ahead of the $274.5 million in the previous consensus. Shares have climbed 2.5% in late trading. For more info on Z’s earnings, click here.

And Planet Fitness (PLNT Free Report) impressed analysts with a big revenue beat as well as a 3-cent per share positive earnings surprise to 19 cents. Sales reached $97.5 million, well beyond the $93.7 million in the Zacks consensus. The Zacks Rank #2 (Buy)-rated stock also upped revenue guidance to $425-30 million, easily surpassing the $416 million we had been expecting.

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