DOW JONES27,960.80-1031.61 -3.56%
S&P 5003,225.89-111.86 -3.35%
NASDAQ9,221.28-355.31 -3.71%

Snap Trades Lower After Q4 Sales Miss

Snap (NYSE: SNAP) reported fourth-quarter earnings of 3 cents per share on Tuesday, which beat the analyst consensus estimate of 1 cent. This is an increase over losses of 4 cents per share from the same period last year.

Benzinga · 02/04/2020 21:17

Snap (NYSE: SNAP) reported fourth-quarter earnings of 3 cents per share on Tuesday, which beat the analyst consensus estimate of 1 cent. This is an increase over losses of 4 cents per share from the same period last year.

The company reported quarterly sales of $560.888 million, which missed the analyst consensus estimate of $562.45 million. This is a 43.88% increase over sales of $389.822 million the same period last year.

Snap sees first-quarter sales of $450-$470 million versus the $461.6 million estimate, and sees an adjusted EBITDA loss of $70-$90 million.

Snap shares closed at $18.98 and were trading lower by 11% in the after-hours session. The stock has a 52-week high of $19.76 and a 52-week low of $6.70.

Related Links:

Snap's Spectacles 3: What's New?

Baidu, Snap Renew Asia Sales Partnership