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00:02Snap forecast first-quarter revenue below Wall Street estimates on Wednesday,
00:06signaling tougher competition for digital advertising dollars from larger rivals,
00:10according to Reuters. The company expects first-quarter revenue of $1.50 billion to $1.53
00:17billion, below the $1.55 billion analyst estimate compiled by LSEG. Snap said the outlook excludes
00:25revenue from its perplexity integration after the companies did not agree on a broader rollout.
00:30Total active advertisers rose 28% in the fourth quarter, driven by strength in direct response
00:36ads and growth in sponsored snaps and promoted places. The company reported fourth-quarter
00:41adjusted EBITDA of $170 million to $190 million, above estimates of $177.9 million. Snapchat Plus
00:51subscribers rose 71% to $24 million in the fourth quarter, while daily active users increased year
00:57over year, but declined from the prior quarter. For all things money, visit Benzinga.com.
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