Social media-sharing platform Snapchat was one of the latest tech companies to report on its quarterly earnings results this week, and it was a mixed bag of news. In revenue, Snapchat wasn’t able to overcome estimates by Wall Street analysts. In earnings-per-share (EPS) the company fared a bit better, overcoming some analyst expectations and matching others.
Snapchat posted its Q4 2023 earnings results on its investor relations website this week. The company put up a revenue of $1.36 billion. Unfortunately, that just wasn’t quite enough to get past the $1.4 billion expected by Wall Street. In EPS, Snapchat came out to a final tally of $0.08 per share. This was right in line with the Earnings Whisper expectation, which was the same amount. It was also better than Wall Street analyst expectations, which called for $0.06 per share.
Snapchat has continued to remain a notable app in the social media and instant messaging space, especially as companies like Twitter (now X) have been floundering as of late. If anything, Snapchat has been able to further distinguish itself for its media-sharing capabilities and various interactive options. It’s still not at the level of Twitter or Facebook, but Snapchat still remains a stable app in the social media space for the time being.
With Snapchat’s latest quarter in the books, we’ll see how the company continues to move throughout its 2024 fiscal year. Stay tuned for more reporting on that and other companies as they share their latest earnings results.