Snap's 'Eye Popping' Revenue Surprises Analysts

LOS ANGELES, United States — Snap Inc.’s good quarter was bad news for short sellers who steadily added to positions over the past month.

Bearish wagers represented about 23 percent of shares available to trade before Snap reported fourth-quarter revenue that beat the highest analyst estimate, according to Markit data. That’s up from 16 percent at the start of the year.

“This eye popping top-line beat was a shocker,” GBH Insights analyst Daniel Ives said in a…
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