Snap, Inc. expected a first-quarter EBITDA loss , despite a better-than-expected financial report for the fourth quarter.
For the fourth quarter, the social media company’s adjusted earnings came in at 9 cents a share – compared to the 7 cents expected by analyst polled by FactSet. Revenue of $911 million also was higher than the $852.3 million estimated by analysts.
The company projected adjusted EBITDA -- earnings before interest, taxes, depreciation, and amortization – in the range of -$70 million to -$50 million in the first quarter. It expects revenue to be between $720 million and $740 million, vs. $462 million in the same period a year ago.
"We delivered our first full year of Adjusted EBITDA profitability," said Evan Spiegel, CEO, in a statement. "As we look towards the future, we’re excited to build on our investments in augmented reality, mapping, and content to drive our ongoing growth."