Snap says the quarter ‘materialized largely as expected’

"Q4 revenue was $1.3 billion, flat year-over-year and up 2% year over-year on a constant currency basis. The quarter materialized largely as expected, with weaker demand from our brand oriented advertising business, which declined 11% year-over-year, while our DR business performed relatively better, up 4% year over-year. Weaker demand for brand-oriented advertising was most apparent in the period between Thanksgiving and the end of Q4, where we have historically observed peak demand for brand advertising products."