WB - Snap Reports Weak Revenue Joins ePlus Cognizant And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session | Benzinga
U.S. stock futures were mixed this morning, with the Dow futures trading almost flat on Wednesday.
Shares of Snap Inc. (NYSE: SNAP) fell sharply in today’s pre-market trading after the company reported mixed fourth-quarter results.
Snap’s fourth-quarter revenue increased 5% year-over-year to $1.361 billion, which missed the consensus estimate of $1.38 billion, according to Benzinga Pro. The company reported quarterly adjusted earnings of 8 cents per share, which beat analyst estimates of 6 cents per share.
Snap guided for first-quarter revenue of $1.095 billion to $1.135 billion versus estimates of $1.12 billion. The first-quarter adjusted EBITDA is expected to be between negative $55 million and negative $99 million, which appears to be ...