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Fourth quarter income statement exceeded Wall Street expectations on Thursday, but executives said 2021 will be a tumultuous year after a hiatus in ad spending in January, and technology is changing that


plans to implement

Snap (Ticker: SNAP) Stock slide 77% in the extended session Stocks retreated 16% during regular trading, closing at $ 58 31

Snap reported a net loss of $ 1131 million for the fourth quarter, which is 8 cents per share, compared to a loss of $ 240 a year ago, 7 million or 17 cents per share after adjusting for stock compensation, earnings were under other 9 cents per share Wall Street had expected adjusted earnings of 7 cents per share

The company reported sales growth of 62% to $ 9113 billion from $ 560 million a year ago. Consensus revenue estimate was $ 8561 million

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“We have had our first full year of adjusted Ebitda profitability (Earnings Before Interest, Taxes, Depreciation and Amortization) and we look forward to our continued growth as we look ahead to our investments in augmented reality, mapping and content drive forward, ”said CEO Evan Spiegel

In prepared remarks, executives attributed profits to the company’s growth outside the USand the improvements it’s made to its advertising technology, Chief Business Officer
Jeremi Gorman
said direct response advertising remained stable year-round

The daily membership of Snap rose to 265 million, well above the consensus forecast of 2579 million

The coming quarter could be more challenging, however, in Prepared Remarks, CFO Derek Anderson said that Snap experienced “an interruption” in the first two weeks of January due to the violent attack on the U. Capitol An unknown number of brands stopped advertising during this period

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Anderson warned Snap investors of an impending technical change to Apple’s mobile operating system (AAPL) that could affect ad targeting Anderson said it was not clear what the longer-term impact the technical changes will have

Apple has announced that its customization will help protect customer privacy An argument that Facebook has classified as not real

Despite the setbacks earlier in the year, Spiegel expects Snap to make additional advances in profitability and increase sales by more than 46% This corresponds to Snap’s sales for the full year

The Company Expects First Quarter Revenue of $ 720-740 million Analysts forecast an adjusted loss of 2 cents per share for the first quarter on revenue of $ 705 million

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Snap Stock

World News – United States – Snap Stock falls after disruption warning in 2021