Categories AlphaGraphs, Earnings, Leisure & Entertainment

Snap Inc (SNAP) stock plunges after missing Q4 2019 revenue targets

Snap Inc’s (NYSE: SNAP) fourth quarter 2019 topline results fell short of the market’s expectations and resulted in more than 10% decline in its stock price during the after-hours. The company reported adjusted earnings of 3 cents per share on revenue of $561 million. On average, analysts expected Snap to earn $0.01 per share on revenue of $563.03 million for the quarter ended December 31, 2019.

Snap Inc (SNAP) Q4 2019 earnings infograph

On a GAAP basis, net loss increased $49 million to $(241) million in Q4 2019, compared to the prior year. Net loss included $100 million of non-recurring legal charges in the recently ended quarter.

For the fourth quarter of 2019, the Santa Monica, California-based company’s daily active users (DAUs) grew 17% year-over-year to 218 million. Snap has been investing in developing new features and capabilities to drive user growth and engagement.

DAUs increased sequentially and year-over-year in North America, Europe, and Rest of the World and also on each of iOS and Android platforms.

For the first quarter of 2020, Snap projected revenue to be between $450 million and $470 million.

Commenting on the full-year results, CEO Evan Spiegel said, “In 2019 we saw momentum across the board. We grew our community by 31 million daily active users, accelerated our revenue growth, and progressed towards profitability by improving full-year Adjusted EBITDA by 65% year-over-year.”

SNAP stock, which reached a new yearly high ($19.76) ten days back, has gained 28% in the last three months and 173% from this time last year.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

Most Popular

Weibo (WB) Earnings: 1Q21 Key Numbers

Weibo Corporation (NASDAQ: WB) reported first-quarter 2021 earnings results today. Net revenues increased by 42% year-over-year at $458.9 million and 31% increase on a constant currency basis. Net income attributable

Earnings calendar for the week of May 10

Stock markets rallied amid mixed cues on the health of the labor market, with latest data showing that payrolls grew at a slower-than-expected pace while unemployment claims slipped below the

Apple-Epic legal fight could set a new paradigm for mobile app distribution

These days the tech world is abuzz with the legal battle between gadget giant Apple, Inc. (NASDAQ: AAPL) and Epic Games, which has elicited significant media interest. The trial in

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top