The social media company surpassed earnings and revenue estimates across all segments
Since its 2017 listing, Snap scored the best Q4 of positive net income - $23 million. On an adjusted basis, it reported earnings per share of $0.22, marking a 135% increase from fiscal Q4 2020. The market was looking for $0.10 per share.
Also, the quarterly revenue jumped 42% year-over-year to $1.3 billion, surpassing the $1.2 billion estimated.
A surge was noticed in the number of daily active users (DAU), which reached 319 million, a 20% increase year-over-year, marking the fifth straight quarter of growth.
Snap’s annual revenue rose 64% to $4.12 billion, scoring the first full year of positive operating and free cash flow.
For Q1, Snap forecasts revenue between $1.03 - $1.08 billion, higher than the $1.02 billion estimates.
The markets were impressed with the company’s latest earnings. At the moment of writing, Snap’s stock price traded 46.49% higher.
Sources: finance.yahoo.com, tipranks.com