One of Snap's biggest supporters on Wall Street says the company is still 'a clear innovation leader' (SNAP)

pulse

May 2, 2018 4:31 PM

Snap's first-quarter earnings were a disaster, and analysts up and down Wall Street are downgrading the stock. But the company's future isn't as bleak as everyone thinks, according to RBC Capital Markets analyst Mark Mahaney.

But the company's future isn't as bleak as everyone thinks, according to RBC Capital Markets analyst Mark Mahaney.
Snap is innovating on its advertising platform, which can draw even more advertisers in, he said.
User time spent on the platform is strong, Mahaney said, and i
international growth is still in the early stages.

Snap's first-quarter earnings were a disaster, and analysts up and down Wall Street are downgrading the stock. But RBC Capital Markets analyst Mark Mahaney still believes in the company, and isn't dissuaded by its brutal quarter.

Snap's earnings release

And CFO Drew Vollero said Snap won't be bouncing back any time soon.

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