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Snap beats users and estimates the highest-growing revenue in four years

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July 23, 2021

Thursday’s Snap Inc surpassed analysts’ estimates for both user and quarterly revenue growth as new features in the messaging app Snapchat attracted more users, the highest growth rate since late 2017. ..

Snap revenues increased 116% to $ 892 million, surpassing analysts’ target of $ 845.9 million-Reuters

Snapchat is known for its story feature that allows users to post updates that disappear after 24 hours, and has five apps that span media content and viral short-form video clips to keep users interested and attract more advertisers. I grew it in a different part.

According to Refinitiv’s IBES data, the number of active users per day in the second quarter ending June 30 increased by 23% to 293 million, surpassing Wall Street’s estimated 290.3 million. .. User growth exceeded the company’s record high of 22%.

Snap’s revenue increased 116% to $ 892 million, surpassing analysts’ target of $ 845.9 million. Previously, the company’s highest growth rate was 66%.

Throughout the pandemic, the company promotes ad formats on Snapchat that aim to generate revenue for advertisers, such as allowing users to swipe up on mobile ads to access branded websites. It continued to grow.

New privacy management implemented by Apple Snap CEO Jeremi Gorman said in a statement that Inc. in April aimed to limit the tracking of iPhone users without the knowledge of digital advertisers. He said it caused “some confusion.” -The long-term impact of Snap on your business.

Snap has also invested heavily in augmented reality technology, for example, allowing users to effectively try on makeup and clothing to boost brand sales.

Based in Santa Monica, Calif., The company generated third-quarter revenues between $ 1.07 billion and $ 1.09 billion, with daily active users up 21% year-on-year to 301 million. I predict that it will be.

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Snap beats users and estimates the highest-growing revenue in four years

Source link Snap beats users and estimates the highest-growing revenue in four years

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