Snap, the parent company of Snapchat, could earn more than $3 billion in 2019, Citi Research says. And Instagram could generate nearly $10 billion in that same year.
Why the massive growth?
Revenues should catch up to time spent by users.
Citi released a new research note this morning that could bolster Snap’s stock price, currently trading about half its post-IPO high. Based on the company’s daily average user growth, which should hit 240 million in 2019, and the very high amount of time spent by users in the app — more than 30 minutes a day — Citi sees brighter times in the Snap’s future.
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