On April 25, 2024, Snap Inc. released its financial results for the first quarter of the year, ending March 31, 2024. The company reported a 21% increase in revenue year-over-year, reaching $1,195 million. Daily Active Users (DAUs) also saw a rise of 10% compared to the previous year, totaling 422 million. Despite these gains, Snap Inc. experienced a net loss of $305 million, which was a slight improvement from the $329 million loss in the prior year. Adjusted EBITDA was reported at $46 million, a significant increase from just $1 million the previous year. Operating cash flow and Free Cash Flow were $88 million and $38 million, respectively, both showing a decrease from the prior year. The company's CEO, Evan Spiegel, attributed the improved financial performance to the value provided to...Show More

On April 25, 2024, Snap Inc. released its financial results for the first quarter of the year, ending March 31, 2024. The company reported a 21% increase in revenue year-over-year, reaching $1,195 million. Daily Active Users (DAUs) also saw a rise of 10% compared to the previous year, totaling 422 million. Despite these gains, Snap Inc. experienced a net loss of $305 million, which was a slight improvement from the $329 million loss in the prior year. Adjusted EBITDA was reported at $46 million, a significant increase from just $1 million the previous year. Operating cash flow and Free Cash Flow were $88 million and $38 million, respectively, both showing a decrease from the prior year. The company's CEO, Evan Spiegel, attributed the improved financial performance to the value provided to their community and advertising partners. Snap Inc. also highlighted the growth of Snapchat+ subscribers, which more than tripled year-over-year, and a substantial increase in the number of small and medium-sized advertisers on the platform. Looking ahead to the second quarter of 2024, Snap Inc. anticipates continued growth with DAU expected to reach approximately 431 million and revenue projected to be between $1,225 million and $1,255 million. The company also estimates that Adjusted EBITDA for Q2 will be between $15 million and $45 million.