Snap is finally profitable

Stefan Mileschin · 4th February 2022, 07:39

Nearly five years after going public, Snap is finally profitable. The company shared the milestone in its fourth-quarter earnings report, where it reported $23 million in positive net income.

That may be a tiny percentage of its $4.1 billion in quarterly revenue, but it’s an important step for the company which has at times struggled with user growth. But those challenges appear to be firmly behind Snapchat, as daily active users climbed to 319 million, an increase of 13 million for the second quarter in a row. DAUs were up 20 percent overall in 2021.

The news for shareholders was particularly welcome as Snap’s results came a day after Meta reported that Facebook’s daily active users had declined for the first time in its history. The resulting stock slide wiped more than $200 billion off the company’s market cap. Meanwhile, Snap's stock shot up more than 50 percent in after-hours trading, fueled by news of its profitability and continued user growth.

https://www.engadget.com/snap-q4-202...2.html?src=rss

4th February 2022, 07:39	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,966	Snap is finally profitable Nearly five years after going public, Snap is finally profitable. The company shared the milestone in its fourth-quarter earnings report, where it reported $23 million in positive net income. That may be a tiny percentage of its $4.1 billion in quarterly revenue, but it’s an important step for the company which has at times struggled with user growth. But those challenges appear to be firmly behind Snapchat, as daily active users climbed to 319 million, an increase of 13 million for the second quarter in a row. DAUs were up 20 percent overall in 2021. The news for shareholders was particularly welcome as Snap’s results came a day after Meta reported that Facebook’s daily active users had declined for the first time in its history. The resulting stock slide wiped more than $200 billion off the company’s market cap. Meanwhile, Snap's stock shot up more than 50 percent in after-hours trading, fueled by news of its profitability and continued user growth. https://www.engadget.com/snap-q4-202...2.html?src=rss

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