Snap Inc (NYSE: SNAP) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The social media company reported fourth-quarter revenue of $911 million, up 62% year-over-year and above the Wall Street projection. Net income of $0.09 per share was also higher than what analysts had anticipated.
SNAP shares fell over 5% immediately following the announcement. The stock has tripled in the trailing 12 months.
For the first quarter 2021, the company expects revenue to be between to be between $720 million and $740 million, while adjusted EBITDA loss is estimated to be between $70 and $50 million.
