Snap Stock Is Diving Wednesday: What's Going On?
- 4 months ago
Snap said fourth-quarter revenue increased 5% year-over-year to $1.361 billion, which missed the consensus estimate of $1.38 billion, according to Benzinga Pro. The company reported quarterly adjusted earnings of 8 cents per share, which beat analyst estimates of 6 cents per share.
Operating cash flow came in at $165 million and free cash flow totaled $111 million during the quarter.
Daily active users grew 10% year-over-year to 414 million. Average revenue per user came in at $3.29. Total time spent watching Spotlight increased more than 175% year-over-year.
Snap didn’t provide formal guidance last quarter, citing headwinds related to the ongoing conflict in the Middle East. In a letter to shareholders this week, Spiegel noted that the Middle East conflict is estimated to have a two percentage point impact on year-over-year growth in the fourth quarter.
Operating cash flow came in at $165 million and free cash flow totaled $111 million during the quarter.
Daily active users grew 10% year-over-year to 414 million. Average revenue per user came in at $3.29. Total time spent watching Spotlight increased more than 175% year-over-year.
Snap didn’t provide formal guidance last quarter, citing headwinds related to the ongoing conflict in the Middle East. In a letter to shareholders this week, Spiegel noted that the Middle East conflict is estimated to have a two percentage point impact on year-over-year growth in the fourth quarter.