Snap Inc. reported a 14% revenue jump to $1.55B, adding 10M users, yet its stock dropped amid higher costs.

Snap Inc. reported strong Q4 2024 earnings, beating estimates with a 14% revenue increase to $1.55 billion. The company added 10 million daily active users, reaching 453 million, and saw Snapchat+ subscriptions double to 14 million. Despite financial growth, Snap's stock fell due to higher costs and uncertain growth. TikTok's uncertain future in the U.S. also benefited Snapchat's business, with a surge in user engagement. Snap appointed Ajit Mohan as Chief Business Officer to drive global advertising growth.

2 months ago
39 Articles