SNAP's Q4 Earnings Surpass Estimates, Revenues Rise Y/Y

Snap (SNAP) reported fourth-quarter 2023 earnings of 8 cents per share, which beat the Zacks Consensus Estimate by 14.29% but declined 42.9% year over year.Revenues increased 4.7% year over year to $1.36 billion and missed the Zacks Consensus Estimate by 1.84%. The top-line growth was driven by the company’s focus on investing in direct-response business to deliver increased return on ad spend for advertising partners.The brand-oriented advertising business declined 3% year over year, while the direct-respo ...