Snap Inc. ascends on revenue numbers, exhibits staggering user growth

CIO.com_Snap Inc_News

Snap Inc’s stock climbed 6% in after-hours trading on Thursday when the company informed its first-quarter results, which contradicted the Wall Street’s anticipations on earnings in terms of both, revenue and user growth.

The company anticipates year-over-year revenue growth of 80% to 85% for the next quarter. It also expects to reach roughly 290 million DAUs in the second quarter.

Snap, Inc’s CFO, Derek Andersen added “Q1 marked Snap’s first-ever quarter of positive free cash flow as a public company, which came in at $126 million.”

Snap also reported 280 million daily active users, which scaled nearly 6% from the previous 265 million which it reported in the month of February.

CEO Evan Spiegel additionally stated that Snapchat’s Android user base has now surpassed that of its iOS user base. Spiegel described the upturn “a critical milestone that reflects the long-term value of the investment we made to rebuild our Android application.”

No Comments Yet

Comments are closed


CIO Look is Global business authority platform where you can explore the perspective of Entrepreneurs, business owners, and innovators who drive business around the globe. CIOLook has unvaryingly been at the front line for its honesty and genuineness acquiring acknowledgment from Business pioneers universally. It features best business hones inferred by individuals, organizations, and industry divisions around the globe…. Read More

Follow us