February 7, 2024 (Globalinvestorideas.com Newswire) Investorideas.com (www.investorideas.com) Tech/Social Media Stock News Bite – Snap Inc. (NYSE: SNAP) announced financial results for the quarter and full year ended December 31, 2023.
The stock is trading at $11.97, down $5.48 (-31.42%) on the news.
“2023 was a pivotal year for Snap, as we transformed our advertising business and continued to expand our global community, reaching 414 million daily active users,” said Evan Spiegel, CEO. “Snapchat enhances relationships with friends, family, and the world, and this unique value proposition has provided a strong foundation to build our business for long-term growth.”
Annual Financial Summary
Revenue was $4,606 million in 2023, compared to $4,602 million in 2022.
Net loss was $1,322 million in 2023, compared to $1,430 million in 2022.
Fourth consecutive year of positive Adjusted EBITDA at $162 million in 2023.
Third consecutive year of positive operating cash flow at $247 million in 2023.
Third consecutive year of positive Free Cash Flow at $35 million in 2023.
Q4 2023 Financial Summary
Revenue was $1,361 million, compared to $1,300 million in the prior year, an increase of 5% year-over-year.
Net loss was $248 million, compared to $288 million in the prior year.
Adjusted EBITDA was $159 million, compared to $233 million in the prior year.
Operating cash flow was $165 million, compared to $125 million in the prior year.
Free Cash Flow was $111 million, compared to $78 million in the prior year.
Read the company’s full news and disclaimer here:
Research more tech and social media stocks with Investorideas.com free stock directory https://www.investorideas.com/TSS/Stock_List.asp
About Investorideas.com – Big Investing Ideas
Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech , sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors. Paid content is always disclosed.
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: More disclaimer and disclosure info https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Follow us on Twitter @investorideas and @stocknewsbites
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Sign up for free stock news alerts at Investorideas.com
https://www.investorideas.com/Resources/Newsletter.asp
Contact Investorideas.com
800 665 0411