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Stellar quarter for Snap

Stellar quarter for Snap

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

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