Snap stock dives around Q4 earnings beat, slight revenue miss
Yahoo Finance Live's Seana Smith takes a closer look at Snap's latest earnings report.
SEANA SMITH: Let's take a look at Snap. Because it's a huge mover, here, this afternoon in extended trading shares. Under pressure following its fourth quarter results that we just got out that shares off just about 14% right now. A lot of that pressure, almost all of it, has to do with its guidance that we're getting for the first quarter. Growth expected to slow.
They're actually expecting their first ever quarterly revenue decline for their first quarter. They're expecting revenue to drop within the range of between 2% to 10%. That's on a year over year basis.
We're seeing Meta, Pinterest, Alphabet, some of those other names in the social media space lower, here, on the heels of these results from Snap. Daily active users coming in just above expectation, 375 million. The estimate on the street was for 374.7 million.
Adjusted VPS also better than expected at $0.14. Revenue, essentially, in line with the street's forecast revenue for the fourth quarter, coming in at $1.30 billion. Estimate out there was four $1.31 billion.