Snapchat 2019 Q1 earnings report shows a company growing in some key areas, while more poorly performing in other areas…
The Snapchat 2019 Q1 earnings report is out and it demonstrates the company is indeed growing in some areas but struggling in others.
Snapchat 2019 Q1 Earnings Report Shows User Growth and Increased Revenue but Big Operating Losses
Snap, Inc., announced it has 190 million DAUs or daily active users, an increase of 2.2 percent compared to last quarter’s 186 million. It’s also an improvement from the same time last year, when the number stood at 191 million DAUs.
Financially, Snap earned $320 million in revenue, an increase of 39 percent from last year. Meanwhile, operating losses make it unprofitable in net terms, coming in at $316 million. However, that’s still $76 million less than a year prior.
The company touted its user growth. It reached 75 percent of people ages 13 through 34 in the United States. Additionally, CEO Evan Spiegel claims Snap’s ads “can now reach more 13-34 year-olds than Instagram.”
Snapchat recently rolled out its total rebuild of its Android app, something Spiegel cites as one key aspect of the company’s improved performance. “Improvements in performance and new user retention will take time to compound and meaningfully impact our top-line metrics.”