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Snap Inc. Q4 Profit Tops Estimates, Revenue Miss; Stock Falls

Snap Inc. (SNAP) reported fourth-quarter non-GAAP net income per share of $0.03 compared to a loss of $0.04, prior year. On average, 30 analysts polled by Thomson Reuters expected the company to report profit per share of $0.01, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA improved 184% to $42 million. Net loss widened 26% year-on-year to $49 million.

Fourth-quarter revenue was $560.89 million, an increase of 44% from prior year. Analysts expected revenue of $563.03 million for the quarter. DAUs were 218 million, an increase of 31 million or 17% year-over-year.

For the first-quarter, Snap Inc. projects revenue to be between $450 million and $470 million, compared to $320 million, prior year. Adjusted EBITDA is expected to be negative in a range of $90 million and $70 million.

Shares of Snap Inc. were down nearly 11% after hours.

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