Snap a lot son premier quart financial results for 2022 today, saying it is growing faster than its US rivals Facebook (now Meta) and Twitter. Meta reported its first daily active user (DAU) loss last quarter, while Twitter Monetizable DAUs grew by 2% in the United States and by 15% internationally.
Snap, the parent company of Snapchat, increased its DAUs by 18% year-over-year to 332 million, but for the previous five quarters, its user growth exceeded 20%. But Snap is more concerned about its revenue, even though it rose 38% year-over-year to $1.06 billion. The company said it was on track to achieve 44% growth since the first quarter of 2021, but noted that after Russia invaded Ukraine on Feb. 24, many advertisers paused. their campaigns. Snap Chief Financial Officer Derek Andersen said most advertisers resumed campaigns within 10 days, but the disruption was still negatively impacting the company’s quarterly revenue.
“We believe the impact from the guerre in Ukraine on grab costs, commercialisation budgets et globally economic skill possesses been important, et what ce is difficile pour predict son impact on and avant-looking at on a basis,” Andersen said during Snap’s earnings call.
Snap also missed its third-quarter 2021 revenue targets, citing Apple’s big iOS privacy shift as the cause. Once iOS users were given the choice to disable out-of-app tracking, most users opted out of passing more personal data to the apps they use, impacting business advertising from Snapchat and Facebook. The company said it still relies on this curved form of Apple when it comes to ad revenue.
As for the product itself, Snap is betting big on augmented reality experiences (Niantic too!). The company said 250 million Snapchatters use AR features daily, which is a significant chunk of its 332 million total DAUs. This quarter, Snap rolled out upgrades to AR purchases, as well as community-generated AR experiences for local landmarks.
Next week, Snap is hosting its annual get-together Snap Partner Summitand according to CEO Evan Spiegel, the company plans to announce new products and services at the event.
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