Snap Inc. stock fell in after-hours trading after the Snapchat parent gave financial guidance for the first quarter of 2021 that disappointed Wall Street.The share price decline of more than 6% came despite a stellar set of fourth-quarter results, including user growth, profit and revenue all above analysts’ consensus forecasts.Like other social and digital companies, Snap has benefited significantly from the coronavirus pandemic, which has reduced options for entertainment and leisure.
Daily active users rose 22% to 265 million, exceeding analysts’ expectations.Revenue in the last quarter of 2020 hit $911.3 million, up from $560.9 million in the year-earlier period.
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