Snap (NYSE:SNAP) experienced a 30% plunge in pre-market trading on Wednesday after the company reported Q4 revenues below expectations and predicted a larger EBITDA loss for the upcoming March quarter than analysts had anticipated.

In Q4, Snap’s adjusted earnings per share (EPS) were 8 cents, down from 14 cents a year earlier, but surpassing the analyst expectation of 6.4 cents. Its revenue increased by 4.7% year-over-year to $1.36 billion, falling short of the $1.38 billion consensus.

Revenue from North America reached $899.5 million, a 2.2% increase from the previous year, exceeding the $875.9 million forecast. The company’s adjusted EBITDA stood at $159.1 million, a 32% decrease from the previous year but above the $111.8 million forecast.

Snap also announced it had 414 million daily active users (DAUs) in the quarter, a 10% increase from the prior year, surpassing the 411.59 million expected by analysts. However, the average revenue per user decreased by 5.2% year-over-year to $3.29, missing the $3.33 projection.

Looking into the first quarter of the fiscal year, Snap anticipates revenues between $1.10 billion and $1.14 billion, compared to the consensus of $1.11 billion. It expects an adjusted EBITDA loss ranging from $55 million to $95 million, far worse than the forecasted $32.7 million loss.

For the first quarter, Snap is projecting 420 million DAUs, which would surpass the expected 418.55 million.

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