On February 6, 2024, Snap Inc. released its financial results for the fourth quarter and the full year of 2023. The report highlighted a 10% year-over-year increase in daily active users, reaching 414 million. Fourth-quarter revenue rose by 5% compared to the previous year, totaling $1,361 million. The company also reported positive operating cash flow and free cash flow for the quarter, at $165 million and $111 million, respectively. Over the full year, Snap Inc. achieved a net loss of $1,322 million, which was an improvement from the $1,430 million net loss in 2022. The company also marked its fourth consecutive year of positive Adjusted EBITDA, at $162 million for 2023. Snap Inc. has been focusing on diversifying revenue streams, including the growth of Snapchat+, which reached over 7 million subscribers, and...Show More

On February 6, 2024, Snap Inc. released its financial results for the fourth quarter and the full year of 2023. The report highlighted a 10% year-over-year increase in daily active users, reaching 414 million. Fourth-quarter revenue rose by 5% compared to the previous year, totaling $1,361 million. The company also reported positive operating cash flow and free cash flow for the quarter, at $165 million and $111 million, respectively. Over the full year, Snap Inc. achieved a net loss of $1,322 million, which was an improvement from the $1,430 million net loss in 2022. The company also marked its fourth consecutive year of positive Adjusted EBITDA, at $162 million for 2023. Snap Inc. has been focusing on diversifying revenue streams, including the growth of Snapchat+, which reached over 7 million subscribers, and the introduction of new AI-powered features. The company also continued to invest in its augmented reality platform, with over 350,000 AR creators and developers building nearly 3.5 million AR Lenses. Looking ahead to Q1 2024, Snap Inc. anticipates continued growth with a DAU projection of approximately 420 million and a revenue guidance range of $1,095 million to $1,135 million.