Snap jumped over 55% in premarket trading after achieving positive free cash flow for the year an important milestone.
Snap reported quarterly revenue of $1.3 billion, which beat the $1.2 billion estimate. The company reported quarterly adjusted earnings of 22 cents per share, which more than doubled the estimate of 10 cents per share.
Global daily active users totaled 319 million in the fourth quarter, representing a 20% year-over-year increase. Snap highlighted that year-over-year growth in DAUs has been 20% or more for five consecutive quarters now.
Average revenue per user reached $4.06 during the quarter, up from $3.44 in the fourth quarter of 2020.
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