Earnings

Snap earnings Q4 2022

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Snap shares plunge on weak sales outlook despite earnings beat

Snap shares slid more than 14% in extended trading on Tuesday after the social media company reported fourth-quarter revenue that trailed analysts’ estimates.

Here’s how the company did:

  • Earnings per share: 14 cents, adjusted, versus 11 cents expected, according to a Refinitiv survey of analysts
  • Revenue: $1.30 billion versus $1.31 billion expected, according to Refinitiv
  • Global Daily Active Users (DAUs): 375 million versus 375.3 million expected, according to StreetAccount
  • Average revenue per user: $3.47 versus $3.49 expected, according to StreetAccount

It’s the third disappointing earnings report in a row for Snap investors. The day after the company’s Q3 earnings report in October, shares…



Source cnbc.com

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