Shares in Snap Inc., the parent of Snapchat beset by a confluence of adverse market forces, fell again in after-hours trading after its latest quarterly financial report.
Revenue came in at $1.3 billion, slightly below Wall Street analysts’ consensus forecast for $1.31 billion and flat with the 2021 quarter, while operating losses widened significantly.
In the period ending December 31, losses totaled $287.6 million, compared with a $25.1 million loss a year ago. Earnings per share of 14 cents beat analysts’ outlook for 11 cents, but fell sharply from 22 cents in the year-earlier quarter.
Daily active user levels for Snapchat matched the Street’s expectation, rising to 375 million from 363 million in the third quarter.
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