Snap stock price dives nearly 12% as weak revenue outlook outweighs Q4 beat and buyback
Snap Inc shares fell 12% to $5.22 Thursday after the company forecast first-quarter revenue of $1.50–$1.53 billion, below analyst expectations. The stock traded heavily between $6.38 and $5.19. Snap reported Q4 revenue up 10% to $1.716 billion and net income of $45 million. The board approved a $500 million buyback over 12 months.