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Mar 31, 2024
Snapchat Q1 2024 Earnings Report
Snapchat's financial performance improved due to the value provided to the community and advertising partners.
Key Takeaways
Snap Inc. reported a 21% year-over-year increase in revenue to $1,195 million for Q1 2024. Daily Active Users (DAUs) also increased by 10% year-over-year, reaching 422 million. The company's net loss decreased compared to the prior year, and free cash flow was $38 million.
Daily Active Users increased 10% year-over-year to 422 million.
Revenue increased 21% year-over-year to $1,195 million.
Snapchat+ subscribers more than tripled year-over-year, surpassing 9 million.
The number of small and medium sized advertisers on Snapchat increased 85% year-over-year.
Revenue by Geographic Location
Forward Guidance
Snap anticipates continued growth of its global community in Q2 2024, with DAU expected to be approximately 431 million. Revenue is projected to be between $1,225 million and $1,255 million, implying year-over-year growth of 15% to 18%. Adjusted EBITDA is estimated to be between $15 million and $45 million.
Positive Outlook
- Continued growth of global community
- Improvements to DR advertising platform
- Drive improved results for advertising partners
- Accelerate topline growth
- Revenue growth of 15% to 18%
Challenges Ahead
- Investment plans for the quarter ahead
- Adjusted EBITDA between $15 million and $45 million
- Executing against roadmap
- Deliver improvements to our DR advertising platform
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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