Snap's Next Surprise May Be Earlier-Than-Expected Profit
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Snap’s been full of surprises in its first year as a public company, including a controversial redesign. The latest one may be turning profitable three years sooner than Wall Street had imagined.
Analysts don’t expect positive adjusted net income or earnings before interest, taxes and other expenses until 2021, yet Chief Executive Officer Evan Spiegel has a different plan. According to The Information, he told the social media company’s employees that they should work toward break-even this year. Investors seem keen on the idea: Snap’s shares rose as much as 2.7 percent Friday before paring gains.