Sina science and technology news in the morning of October 26, Beijing time, " burn after reading" communication application Snapchat's parent company Snap released its third quarter financial results for fiscal 2018 today. According to the report, SNAP's revenue in the third quarter was 297.7 million US dollars, up 43 % from 207.9 million US dollars in the same period last year, setting a record. The net loss was 325 million US dollars, down from 443 million US dollars in the same period last year. Snape's third-quarter revenue and adjusted loss per share were better than Wall Street analysts had expected, but its fourth-quarter revenue outlook was not as good as expected, causing its after-hours share price to plummet by nearly 17 %.
In the fiscal quarter ending September 30, SNAP's net loss was US $ 325 million, and its diluted loss per share was 25 cents, which was better than the same period last year. In the third quarter of fiscal year 2017, SNAP posted a net loss of US $ 443 million and a diluted loss of 36 cents per share.
Excluding certain one-time items ( not in accordance with US General Accounting Standards ), SNAP lost 12 cents per share after adjustment in the third quarter, which is also better than the same period last year and exceeds analysts' expectations. In the third quarter of fiscal year 2017, SNAP lost 14 cents per share after not adjusting to the US General Accounting Standards. According to a survey by FactSet, a financial information provider, analysts had expected snap to lose 14 cents per share in the third quarter.
Snape's revenue in the third quarter was 297.7 million US dollars, up 43 % from 207.9 million US dollars in the same period last year, setting a record and exceeding analysts' expectations. According to FactSet survey, analysts had expected Snape's third-quarter revenue to be 283 million US dollars on average. Snap's adjusted EBITDA loss in the third quarter was $ 138 million, down 23 % from $ 179 million in the same period last year.
Snap's total cost and expenses for the third quarter were $621 million, compared to $670 million in the same period last year. Among them, revenue costs were $198 million, down from $211 million in the same period last year; R&D expenditure was $204 million, down from $239 million in the same period last year; sales and marketing expenses were $97.6 million, down from 1.02 in the same period last year. Billions of dollars; general and administrative expenses were $122 million, up from $118 million in the same period last year. Snap's operating loss for the third quarter was $323 million, a 30% decrease from the operating loss of $462 million in the same period last year.
Snape spent $ 133 million in cash on business operations in the third quarter, compared with $ 194 million in the same period last year. SNAP's free cash flow in the third quarter was - 159 million US dollars, compared with - 220 million US dollars in the same period last year.
Snap had 186 million daily active users in the third quarter, up 5 percent from the same period last year, but down 1 percent from the previous quarter, in line with analysts' expectations.
Snap forecast fourth-quarter revenue of $355 million to $380 million, up 24 percent to 33 percent from a year earlier, which fell short of expectations. Analysts on average expect Snap's fourth-quarter revenue to reach $374 million, according to the FactSet survey. Snap also expects fourth-quarter adjusted EBITDA to be-$75 million to-$100 million, compared with-$159 million in the fourth quarter of 2017.
On that day, SNAP shares rose 0.40 US dollars to 6.99 US dollars in regular trading on the new york Stock Exchange, or 6.07 percent. SNAP shares fell $ 0.65 to $ 6.40, or 9.30 %, in the subsequent after-hours trading up to 7: 05 p.m. Eastern Time ( 7: 05 a.m. Beijing Time on Friday ). In the past 52 weeks, SNAP's highest price was $ 21.22 and its lowest price was $ 6.46. ( tang style )