Snap soared after an earnings report that beat analyst expectations, with shares jumping up to 28 percent during after-hours trading.
The company reported Q4 earnings on Tuesday after the bell:
- Revenue: $285.7 million versus $252.9 million estimated, according to a Thomson Reuters consensus estimate
- Earnings: Loss of 13 cents a share vs. 16 cents per share estimated, according to a Thomson Reuters consensus estimate
- Global daily active users (DAUs): 187 million vs. 184.2 million estimated, per FactSet and StreetAccount
- Average revenue per user (ARPU) estimate: $1.53 vs. $1.36 estimated, per FactSet and StreetAccount
Though the company is still not profitable, it grew revenue 72 percent year-over-year and showed a 46 percent increase year-over-year in revenue ARPU. Cash burn decreased to $225 million, down 49 percent from the previous quarter.
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