Snap Inc. (NYSE: SNAP) reported fourth-quarter financial results after markets closed Tuesday. The company said that it had a net loss of $0.13 per share on $285.7 million in revenue, which compares with consensus estimates from Thomson Reuters that called for a net loss of $0.16 per share and $252.95 million in revenue. The same period of last year reportedly had a net loss of $0.19 per share on revenue of $165.68 million.

During the quarter, daily active users (DAU) increased 8.9 million or 5% sequentially to 187 million, representing the highest net adds since the third quarter 2016. DAUs increased 28.8 million or 18% year-over-year.

Average revenue per user was $1.53 in the quarter, up 46% year over year and 31% sequentially. Cost of revenue per user was $1.02, up 5% year over year and down 14% sequentially.

For the fourth quarter, adjusted EBITDA loss was $158.9 million, an increase of 4% year over year and an improvement of 11% sequentially. Full-year adjusted EBITDA loss was $720.1 million, and it was $459.2 million in 2016.

On the books, Snap’s cash and marketable securities totaled $2.0 billion at the end of the quarter. Cash management reduced the fourth quarter cash burn to $255 million, down 49% sequentially.

The company did not issue any guidance, but the consensus estimates call for a net loss of $0.16 per share on $236.45 million in revenue for the first quarter.

Shares of Snap closed up 1.5% at $14.06, with a consensus analyst price target of $12.36 and a 52-week range of $11.28 to $29.44. Following the announcement, the stock was up 21% at $17.02 in Tuesday’s after-hours trading session.

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