SNAP - Could Snap Stock Help You Become a Millionaire?
2024-02-11 07:35:00 ET
Snap 's (NYSE: SNAP) stock price plunged 33% during after-hours trading on Feb. 6 in response to the social media company's fourth-quarter report. Its revenue rose 5% year over year to $1.36 billion but missed analysts' expectations by $20 million.
Snap's adjusted net income fell 40% year over year to $128 million, or $0.08 per share, but still cleared the consensus forecast by $0.02 per share. Its adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) dropped 32% to $159 million.
Those messy headline numbers suggested that Snapchat was struggling to keep pace with Meta Platforms ' (NASDAQ: META) Instagram and ByteDance's TikTok. They were also dismal compared to Meta's superior growth rates .
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Could Snap Stock Help You Become a Millionaire?