Snapchat Adds 12 Million Users in Q4, But Revenue Misses Market Estimates

Snapchat, the private social app, has seen mixed results in the fourth quarter of 2022. On the one hand, the company has added 12 million more active users, taking its daily active user count to 375 million. On the other hand, company revenue has missed market expectations. Snapchat's user base growth is largely driven by users in the rest of the world, particularly in India. North American user growth, however, is flat, while European users are seeing a slight uptick. Snapchat+ subscriptions continue to rise, too. In terms of company revenue, Snapchat posted $911 million, missing market estimates of $945 million. The company's revenue was up 64% year-over-year, but it was still below market expectations. Despite the revenue miss, the company is optimistic about its future. The company has made several acquisitions and partnerships lately, including a $1.1 billion acquisition of Zenly, a French social mapping company. It has also partnered with Amazon for visual search and with NBCUniversal for original content. Overall, Snapchat has seen mixed results in the fourth quarter of 2022. The company has added 12 million more active users and Snapchat+ subscriptions continue to rise. However, company revenue missed market estimates. The company is optimistic about its future, making several acquisitions and partnerships. What do you think? Leave a comment below.

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• Mariana Rocha 31 Jan 2023