Snap revenue soars 38% to $1.06B in Q1 - Breaking The News

Snap revenue soars 38% to $1.06B in Q1

21 April

1 min read

EPA/JUSTIN LANE

The United States tech company Snap Inc. reported on Thursday that its revenue for the first quarter of 2022 was $1.06 billion, which is 38% more than the same period a year ago. The company added that the average revenue per user increased 17% to $3.20 during the first quarter of the fiscal year.

Net loss was at $360 million in comparison to $287 million in the first three months of the previous year. Daily Active Users (DAU) number reported 332 million users, an increase of 18% year-over-year globally. The company noted it expects annual revenue growth of up to 25% in the second trimester.

Snap's shares were up 9.45% in after-hours trading after the report.

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