Snap (SNAP) reports better than expected numbers, but the numbers are still very weak. The stock won't hold this rally. Q4 Non-GAAP EPS of -$0.04 beats by $0.03. Revenue of $389.82M (+36.4% Y/Y) beats by $12.83M. DAUs - 186M vs 184M. The key number is that Snap is still losing money and the guidance for Q1 is rather weak. The social messaging service had negative FCF of $149 million and a similar net loss of $158 million. When a company is losing a sizable amount, the stock won't hold gains based on beating estimates. Snap has to show a more legitimate path to profits, than the CEO saying it while the CFOs keep leaving. Another adjusted EBITDA loss in Q1 of $150 million is another ugly start to another year. Q1 2019 Outlook - Revenue is expected to be between $285 million and $310 million, or grow between 24% and 34% compared to Q1 2018. - Adjusted EBITDA is expected to be between $(165) million and $(140) million, compared to $(218) million in Q1