Snap's earnings show growth despite competition from Facebook, TikTok

mood · Oct 23, 2019

Snap's earnings show growth despite competition from Facebook, TikTok
The ephemeral-messaging app now has 210 million daily active users
October 22, 2019
https://www.cnet.com/news/snaps-earnings-show-growth-despite-competition-from-facebook-tiktok/

Snap appears to be making a comeback, attracting new users after it announced a new version of its augmented reality sunglasses. The parent company of ephemeral-messaging app Snapchat said Tuesday that it had 210 million daily active users, an increase from the 203 million daily active users the company reported in the second quarter.

In October, Instagram took another page out of Snapchat's playbook when it launched a camera-first standalone app called Threads for messaging close friends.
The competition with Facebook properties has prompted Snap to keep an eye on the social network's "hardball tactics."

But analysts say Facebook isn't the only competitor Snap has to worry about, pointing to the growth of short-form video app TikTok.

"Competition from upstart social platform TikTok is still looming, however, and it could lead to lower engagement for Snapchat in the future, because both platforms target the youth audience," said eMarketer Principal Analyst Debra Aho Williamson in a statement.
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Engadget: Snap continues to add new users

mood · Jul 22, 2020

Snap grows its daily user base and keeps advertiser money coming in, even during the pandemic
But what does the rest of the year bring?
July 21, 2020
https://www.theverge.com/2020/7/21/21333263/snap-earnings-pandemic-covid-19-daily-active-users

The pandemic hasn’t been too terrible for Snap. The company behind Snapchat announced its second quarter earnings today, detailing how its business has fared during the COVID-19 outbreak around the world. Its user base is up by 9 million people daily over last quarter, and its revenue is up 17 percent year over year, at $454 million.

Snap is positioning the growth as a win, especially given that advertiser budgets are shrinking amid a global economic downturn.

“The economic environment has become challenging for many of our advertising partners and this has had an impact on the rate of growth in our business,” says Derek Andersen, Snap CFO, in prepared remarks.
Year-over-year growth in January and February was approximately 58 percent, he says, before declining to approximately 25 percent in March. He went on to say the high growth early in the year suggests that, under normal market conditions, Snap could thrive.
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The company says users check Snapchat an average of over 30 times per day, and CEO Evan Spiegel says in his prepared remarks that the team has seen an increase in “group activities,” like games, calls, and chats.
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mood · Jul 22, 2022

Snap isn’t happy with how much money it’s making
CEO Evan Spiegel is signaling tough times ahead
July 21, 2022

Snap knows it can do better. The company reported earnings results for the second quarter of 2022 this afternoon, and the numbers show a company that’s continuing to grow its users and revenue — but at a much slower rate than it used to.

“Our financial results for Q2 do not reflect the scale of our ambition,” the company wrote in a note to investors. “We are not satisfied with the results we are delivering.”
To turn things around, Snap is promising to “recalibrate” its hiring, goals, and investments. And, in a splashier move, the company said it had signed Snap co-founders Evan Spiegel and Bobby Murphy, the company’s CEO and CTO, to stick around for another four years, through the end of 2026.
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This rallying cry isn’t coming because Snap is falling apart. The company made $1.11 billion in revenue during Q2, up from $982 million in 2021, and it added 15 million more users, bringing it to 347 million.

The problem for Snap is that it’s simultaneously dealing with a shaky economic environment and the fallout of an advertising market that was upended by Apple last year when the company dramatically limited the type of user tracking that advertisers had long relied on. “Platform policy changes have upended more than a decade of advertising industry standards,” Snap writes. As a result, Snap’s revenue growth has been slowing, and its net income has plummeted to a loss of $422 million from a loss of $152 million during Q2 of last year.
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It’s also seeking out new revenue sources, like the newly launched power user subscription service Snapchat Plus. The service already seems to be having some success.
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Rasheed187 · Jul 30, 2022

mood said: ↑

Snap isn’t happy with how much money it’s making
CEO Evan Spiegel is signaling tough times ahead
July 21, 2022
Click to expand...

Can anyone explain to me how a ''social media'' company like Snapchat manages to make a loss of $442 million in only 3 months? Why isn't anyone looking into this, smells like fraud to me. I don't know why such a company is even still listed on Wall Street.

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Snap's earnings show growth despite competition from Facebook, TikTok

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