Snap Inc. (NYSE: SNAP) released fourth-quarter financial results after markets closed Thursday. The company reported $0.09 in earnings per share (EPS) and $911 million in revenue, compared with consensus estimates that called for $0.07 in EPS and revenue of $857.39 million. The same period of last year reportedly had EPS of $0.03 on $560.89 million in revenue.
During the latest quarter, daily active users (DAUs) increased to 265 million from 218 million in the fourth quarter last year, a 22% gain. DAUs increased sequentially and year over year in the North America, Europe and Rest of the World segments. IOS and Android platforms saw a sequential and year-over-year increase as well.
Another stat the company mentioned in the report was that more than 90% of the U.S. Gen Z population watched Shows and publisher content in the fourth quarter.
At the same time, average revenue per user increased 33% year over year to $3.44.
On the books, Snap’s cash, cash equivalents and marketable securities totaled $2.54 billion, up from $2.11 billion at the end of the previous fiscal year.
Snap has broken from its trend of not issuing guidance, but this may have weighed on the stock. Looking ahead to the first quarter, the firm expects to see revenue in the range of $720 million to $740 million and an adjusted EBITDA loss between $70 million and $50 million. The consensus estimates call for a net loss of $0.02 per share and $704.57 million in revenue for the coming quarter.
Shares of Snap closed Thursday at $58.31, in a 52-week range of $7.89 to $60.52. The stock has a consensus price target of $52.00. Following the announcement, the stock was down over 6% at $54.44, in early trading indications Friday.
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
