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U.S. stock futures were mixed this morning, with the Dow futures trading almost flat on Wednesday.
Shares of Snap Inc. (NYSE:SNAP) fell sharply in today’s pre-market trading after the company reported mixed fourth-quarter results.
Snap’s fourth-quarter revenue increased 5% year-over-year to $1.361 billion, which missed the consensus estimate of $1.38 billion, according to Benzinga Pro. The company reported quarterly adjusted earnings of 8 cents per share, which beat analyst estimates of 6 cents per share.
Snap guided for first-quarter revenue of $1.095 billion to $1.135 billion versus estimates of $1.12 billion. The first-quarter adjusted EBITDA is expected to be between negative $55 million and negative $99 million, which appears to be weighing on shares after hours.
Snap shares dipped 31.3% to $11.99 in pre-market trading.
Here are some big stocks recording losses in today’s pre-market trading session.
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Posted In: CTSH DEC FUBO KREF NYCB NYXH PINS PLUS SNAP VFC WB