Snap (NYSE:SNAP) earnings for the camera company’s fourth quarter of 2019 have SNAP stock taking a beating after-hours Tuesday. This is despite its adjusted earnings per share of 3 cents beating out Wall Street’s estimate of 1 cent. The problem is revenue of $560.89 million. This doesn’t reach analysts’ estimates of $563.03 million.
Here’s a more in-depth look at the most recent Snap earnings report.
- Adjusted EPS is an improvement over losses of -4 cents per share in the fourth quarter of 2018.
- Revenue for the quarter is up 43.88% from $389.82 million during the same time last year.
- Operating loss of -$253.60 million is 30.25% worse YoY from -$194.71 million.
- The Snap earnings report also includes a net loss of $240.70 million.
- That’s a 25.58% wider net loss than the -$191.67 million from the same period of the year prior.
Evan Spiegel, Chief Executive Officer of Snap, has this to say about the SNAP stock earnings report.
“In 2019 we saw momentum across the board. We grew our community by 31 million daily active users, accelerated our revenue growth, and progressed towards profitability by improving full-year Adjusted EBITDA by 65% year-over-year.”
The Snap earnings report also includes an outlook for the first quarter of 2020. It expects revenue to range from $450 million to $470 million. Wall Street’s estimate is for revenue of $461.63 million.
SNAP stock was down 10.70% after markets closed on Tuesday. It closed out the day up 4.11%.
As of this writing, William White did not hold a position in any of the aforementioned securities.
