Snap Trades Lower After Q4 Sales Miss

Snap 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.

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