Snap Inc. Reports Significant Growth in Revenue and User Base for 1Q24
Friday, 26 April 2024, 13:16
Overview
Snap Inc. (NYSE: SNAP) reported revenues of $1.19 billion for the first quarter of 2024, up 21% year-over-year.
Financial Results
- Net loss was $305 million, or $0.19 per share, compared to $329 million, or $0.21 per share, in the prior year.
- Adjusted EPS more than doubled YoY to $0.03.
User Base
- Daily active users (DAUs) increased 10% YoY to 422 million.
Projections
For the second quarter of 2024, the company expects revenue to grow 15-18% YoY to $1.22-1.25 billion. DAUs are expected to be approx. 431 million.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.