Snap, Inc. (NYSE:SNAP) shares rallied in Wednesday's extended trading after the company released its fourth-quarter earnings report, beating estimates on the top and bottom lines.
Here's a look at the key figures from the quarter.
The Details: Snap reported quarterly earnings of three cents per share, which beat the consensus estimate for a loss of three cents, according to data from Benzinga Pro.
Quarterly revenue came in at $1.72 billion, which beat the analyst consensus estimate of $1.702 billion by 0.84 percent. This is a 10.21 percent increase over sales of $1.557 billion in the same period last year.
Daily active users (DAU) fell to 474,000 in the fourth quarter, down from 477,000 DAU in the third quarter.
Snap reported the following fourth quarter highlights:
- Reached 946 million global monthly active users (MAU), an increase of 51 million or 6% year-over-year.
- The number of U.S. Snapchatters posting to Spotlight increased 47% year-over-year.
- The number of Spotlight reposts and shares increased 69% year-over-year in the U.S.
“Our Q4 results began to reflect the impact of our strategic pivot toward profitable growth, translating into revenue diversification and meaningful margin expansion,” said CEO Evan Spiegel.
“This progress reflects our commitment to building a more financially efficient and profitable business while continuing to invest in the future of augmented reality and the consumer launch of Specs,” Spiegel added.
SNAP Stock Price: According to data from Benzinga Pro, Snap stock rose 5.58% to $6.24 in Wednesday's extended trading.
Photo: Piotr Swat from Shutterstock
