Snap Inc. reported quarterly sales that missed Wall Street estimates, sending the stock down about 12% in extended trading. The company said fourth-quarter sales totaled $560.9 million, below analysts’ average projections of $562.9 million. The stock is up about 16% this year and closed at $18.98 in New York earlier on Tuesday. Snap forecast first-quarter revenue between $450 million and $470 million. Wall Street was looking for $463 million, according to data compiled by Bloomberg.

Source: Los Angeles Times February 04, 2020 21:33 UTC