Snap Inc, the parent company of Snapchat, the "burning after reading" communications application, today released the company's results for the fourth quarter and the whole year of fiscal year 2021. According to the report, Snap Inc's revenue in the fourth quarter was $1.298 billion, up 42% from $911 million in the same period last year, and its net profit was $22.6 million, compared with a net loss of $113 million in the same period last year, equivalent to a year-on-year increase of 120%. Adjusted net profit, which is not in accordance with US general accounting standards, was $359 million, compared with $136 million in the same period last year.

Snap Inc's fourth-quarter revenue and adjusted earnings per share were better than Wall Street analysts had expected and a better-than-expected revenue outlook for the first quarter of fiscal 2022, sending its shares up more than 58 per cent in after-hours trading.

Main results for the fourth quarter:

Snap Inc's net profit for the quarter ended December 31 was $22.6 million, while diluted earnings per share attributable to common shareholders were 1 cent, much better than a year earlier. In the fourth quarter of fiscal 2020, Snap Inc posted a net loss of $113 million and a diluted loss of 8 cents per share attributable to common shareholders.

Not included in certain one-time items (not in accordance with GAAP)Snap Inc's adjusted net profit in the fourth quarter was $359 million.元Adjusted diluted earnings per share were 22 cents, also better than a year earlier and exceeding analysts' expectations. Fourth quarter of fiscal year 2020Snap Inc's adjusted net profit, which is not in accordance with GAAP, is $136 million.Adjusted diluted earnings per share was 9 cents. According to data provided by Yahoo Finance Channel, 25 analysts had expected Snap Inc's earnings per share in the fourth quarter to reach 10 cents.

Snap Inc's fourth-quarter revenue was $1.298 billion, up 42% from $911 million a year earlier and exceeding analysts' expectations. According to data provided by Yahoo Finance Channel, 34 analysts had expected Snap Inc's fourth-quarter revenue to reach 1.2 billion US dollars on average.

Snap Inc's adjusted EBITDA profit in the fourth quarter was $327 million, up 97 per cent from the adjusted EBITDA profit of $166 million in the same period last year.

Snap Inc's total costs and expenses were $1.323 billion in the fourth quarter, compared with $1.009 billion in the same period last year. Of this total, revenue costs were $449 million, up from $386 million in the same period last year; R & D expenditure was $434 million, up from $318 million in the same period last year; sales and marketing expenses were $245 million, up from $158 million in the same period last year; general and administrative expenses were $194 million, up from $147m in the same period last year. Snap Inc posted an operating loss of $25.1 million in the fourth quarter, down 74 per cent from an operating loss of $97.2 million a year earlier.

Snap Inc's cash from business operations in the fourth quarter was $186 million, compared with $52.5 million in the same period last year, equivalent to a year-on-year increase of 453 per cent. Snap Inc's free cash flow was $161 million in the fourth quarter, compared with-$75.9 million in the same period last year, equivalent to a year-on-year increase of 333%.

The number of daily active users (DAU) of Snap Inc in the fourth quarter was 319 million, an increase of 54 million over the same period last year, or 20 per cent year-on-year.Snap Inc's daily active users have grown by 20 per cent or more year-on-year in the past five quarters. Snap Inc recorded month-on-month and year-on-year growth in the number of daily active users in North America, Europe and other parts of the world in the fourth quarter.

Main achievements of FY2021:

For the entire fiscal year 2021, Snap Inc's revenue was $4.117 billion, an increase of 64% compared with $2.507 billion in fiscal year 2020, and a net loss of $488 million, down 48% from $945 million in fiscal year 2020. Diluted loss per share attributable to common shareholders was 31 cents, compared with 65 cents per share diluted loss in fiscal year 2020. Excluding some one-time items (not in accordance with GAAP), adjusted diluted earnings per share were 50 cents, compared with 16 cents per adjusted share in fiscal 2020, equivalent to a year-on-year increase of 895%.

Snap Inc's cash from business operations for the whole year was $293 million, compared with $168 million in the same period last year, equivalent to a year-on-year increase of 275 per cent. Snap Inc's annual free cash flow was $223 million, compared with-$225 million in the same period last year, equivalent to a year-on-year increase of 199%.

Performance outlook:

Snap Inc expects revenue of $1.03 billion to $1.08 billion in the first quarter of fiscal 2022, with the value ($1.055 billion) exceeding analysts' expectations.On average, 20 analysts expect Snap Inc's first-quarter revenue to reach $1.02 billion, according to data provided by Yahoo Finance Channel. Snap Inc also expects that the adjusted EBITDA in the first quarter of fiscal year 2022 will break even.

Changes in stock prices:

Snap Inc shares fell $7.57, or 23.60%, to $24.50 in regular trading on the New York Stock Exchange. Snap Inc shares surged $11.56, or 58 per cent, to $38.75 in after-hours trading as of 04:36 est on Thursday (05:36 Beijing time on Friday). In the past 52 weeks, Snap Inc's highest price is $83.34 and the lowest price is $24.32.