Snap Inc. has announced its fourth quarter 2024 earnings, showcasing a significant increase in both daily active users and advertising revenue. For Q4 2024, the company reported revenues of $1.307 billion, marking a 17% increase year-over-year, compared to $1.113 billion in Q4 2023. The company attributed this growth to its expanding user base, which now boasts 427 million daily active users, up from 410 million in the previous quarter. Snap’s advertising revenue was particularly strong, as it grew by nearly 20% year-over-year. The average revenue per user (ARPU) reached $3.06, up from $2.71 in Q4 2023. CEO Evan Spiegel expressed optimism about the company’s ongoing growth, stating, “Our focus on building innovative products and enhancing user experiences has enabled us to not only attract new users but also keep them engaged.” Despite potential concerns about competition in the social media space, Snap is focused on leveraging augmented reality (AR) to differentiate itself and attract advertisers. The company also announced a new augmented reality feature expected to be rolled out in Q1 2025, aimed at brands keen on utilizing AR for promotional campaigns. As a part of its ongoing strategy, Snap is continuously refining its advertising platform to provide better targeting options and improved analytics for advertisers. Investors welcomed the news, as Snap’s stock rose by 10% in after-hours trading following the earnings release. The company continues to explore partnerships and integrations with various brands to further its advertising reach. With the upcoming features and continued growth in daily active users and revenue, Snap appears to be on a positive trajectory heading into 2025.
Snap Reports Strong Q4 2024 Results with Increased Daily Active Users and Advertising Revenue
