Snap Inc. Reports Q4 Profit, Beats Expectations
SANTA MONICA, Calif., March 1, 2023 – Snap Inc. (SNAP) announced a Q4 profit of $9.1 million on Tuesday. The company's earnings per share, adjusted for non-recurring items, reached 16 cents, surpassing analysts' estimates of 14 cents.
Revenue for the period came in at $1.56 billion, also exceeding Wall Street forecasts of $1.55 billion.
For the full year, Snap reported a loss of $697.9 million, or 42 cents per share, on revenue of $5.36 billion.
These results suggest a positive trend for the company behind Snapchat, as they continue to outpace market expectations.