- Snap (NYSE:SNAP) is off 6.4% after hours following fourth-quarter earnings where it topped consensus on financials and users but issued some light guidance on EBITDA for the current quarter.
- Revenue jumped nearly 63% to $911.3M, and GAAP losses were more than cut in half (income to -$113M from a prior-year -$241M).
- Daily active users rose 22% to 265M, topping expectations for 258M. The company notes DAUs rose both sequentially and year-over-year in each of North America, Europe, and Rest of World. They also grew on each of the iOS and Android platforms.
- On average, Snapchatters opened that app 30 times a day in the fourth quarter. On the Discover platform, "over 90% of the U.S. Gen Z population watched Shows and publisher content in Q4 2020." And daily time spent by Snapchatters over 35 rose by more than 35%.
- Operating cash flow improved by $14M to -$53M for the quarter, and free cash flow improved by $7M to -$69M.
- For Q1, it sees revenues at $720M-$740M, and EBITDA of -$70M to -$50M (an improvement form a prior-year -$81M). Analysts have expected positive EBITDA for Q1.
- Conference call to come at 5 p.m. ET.
- Press release