Snapchat shares: quarterly figures
Sales of Snap Inc. (NYSE: SNAP, ISIN: US83304A1060) rose 16 percent year-on-year to just under $1.237 billion in the second quarter of 2024 (previous quarter: just under $1.195 billion).
This meant that the sales growth of the Californian chat and messenger service slowed down again significantly.
In the previous quarter, sales grew by 21 percent year-on-year (Q4 2023: five percent, Q3: 5.4 percent, Q2: four percent, Q1: minus seven percent, Q4 2022: plus 0.1 percent, Q3: six percent, Q2: 13 percent, Q1: 38 percent, Q4 2021: 41 percent, Q3: 57 percent, Q2: 116 percent).
Snap achieved an operating result of minus USD 253.975 million in the reporting period (previous quarter: minus USD 333.232 million), which was a significant improvement over the previous year’s figure of minus USD 404.339 million.
The (adjusted) EBITDA of the US social media platform in the same period amounted to plus 54.977 million US dollars (previous quarter: plus 45.659 million US dollars) (previous year: minus 38.479 million US dollars).
Snap Inc.’s net income for the second quarter of fiscal 2024 was negative $248.620 million, improving from negative $377.308 million in the previous year.
The social media provider based in Santa Monica, California, reported earnings per share (diluted) of minus 0.15 US dollars in the reporting period (previous year: minus 0.24 US dollars).
Snap Inc. generated free cash flow of minus USD 73.439 million (previous quarter: plus USD 37.904 million, previous year: minus USD 118.879 million). Operating cash flow was minus USD 21.377 million (previous year: minus USD 81.936 million).
At the end of the last quarter, Snap still had almost $1.061 billion in cash and cash equivalents (previous quarter: $1.060 billion) and almost $2.021 billion (previous quarter: almost $1.851 billion) in marketable securities.
Snap exceeded its own forecast for adjusted EBITDA and user numbers and met it for revenue.
“Our community grew to over 850 million monthly active users in the second quarter, including over 11 million Snapchat+ subscribers,” said Evan Spiegel, CEO. “We continued to expand our advertising platform and the number of active advertisers more than doubled year over year.
The company plans to announce new updates to the service at the upcoming Snap Partner Summit on September 17.
Snapchat: Development of user numbers and regions
The number of daily active users (DAUs) at Snap Inc. was 432 million in the second quarter of 2024 (previous quarter: 422 million), an increase of nine percent over the previous year.
