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2/5/2019, 10:12 PM (Source: TeleTrader)
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Snap-3.81%

80.08
Chart for: Snap Inc

Snap reports revenue of $390M in Q4, 36% up YoY

The American technology and camera company Snap Inc. announced on Tuesday it made a loss of $0.14 per share in the fourth quarter of 2018, 67% less compared to the same period a year ago. The company's net loss amounted to $191 million a 45% decrease compared to the same quarter of 2017. Snap's revenue came in at nearly $390 million, 36% up from $286 million in the same quarter of the previous year.

In 2018, Snap's loss per share amounted to $0.97, or a 67% decrease in comparison to the year before. Net loss of the tech company for the fiscal 2018 stood at $1.25 billion, while its full year revenue stood at $1,18 billion, marking a 43% increase compared to 2017.

Commenting on earnings report, CEO Evan Spiegel said the company is "substantially closer to achieving profitability," as it has maintained "a relatively flat cost structure across the past five quarters while growing full‐year revenue 43 percent year‐over‐year," he underlined.

Snap's shares soared 16.34% in after-hours trading.

Breaking the News / GG