Snap Inc. announced on Tuesday its revenue in the fourth quarter of the fiscal year 2022 saw an annual rise of 0.1% to come in at $1.3 billion. The company scored a net loss of $288.4 million in contrast with a net income of $22.5 million registered in the same trimester in 2021. It also recorded diluted losses per share of $0.18 per share compared to earnings per share (EPS) of $0.01 seen in the fourth quarter previous year.
In the entire 2022, Snap observed a yearly increase of 12% in its revenue, which reached $4.6 billion. On the other hand, its net loss worsened by 193% to land at $1.4 billion, and losses per share by 187% to $0.89 per share.
Following the release of the report, Snap's Class A common stock sank by 15% in after-hours trading.
