Snap Q4 earnings surprise: profit pops, but soft outlook and user dip hit shares
Snap posted $1.72 billion in holiday-quarter revenue and $45 million in profit, but forecast first-quarter sales below Wall Street targets. Daily active users hit 474 million, up 5% year-over-year but down 3 million from the prior quarter. Shares fell about 3% after hours. Snap announced a $500 million share buyback and reported 24 million Snapchat+ subscribers.